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Summary: This is my "bible" of investing
Review: I have a library of nearly 100 books about the markets. Reminiscences was the third book I ever read and it remains my "bible" more than a decade later. You might wonder how an 80-year old book about the stock market could still be relevant. Well, that is because financial markets are determined by human nature as much as anything else, and human nature acts today as it did a century ago. Greed, fear, herd thinking, impatience - those are the same influences that drive markets today and haunt traders and investors who are striving to make the right decisions. Many of the lessons that dictate my investment philosophy ("Cut your losses, let your winners run", "if you don't like the odds, don't bet") were taught to me by the protagonist, who is the fictional characterization of the legendary Jesse Livermore. That he tells his stories with such color and suspense makes the book completely entertaining beyond its invaluable trading lessons. BUY THIS BOOK FOR YOURSELF. BUY ANOTHER ONE FOR A FRIEND (I've given 4 copies). You'll not only improve your own investing results, but your gift will impress as well.
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Summary: a way of life as a trader.
Review: "Reminiscence's 1923 copyright ran out a long time ago. In the early 80's Wells Wilder invited me to meet the legendary trader Stanley Kroll in Los Angeles. Stanley had quotes from Reminiscence all over the place. Stanley emphasized the lessons Livermore learned from Partridge in the 5th chapter of the book. Here is where Kroll learned how to make consistent profits trading commodities. It was Kroll's who resurrected the long out of print scrolls. In any case Jack Schwager did a Napoleon Hill of commodities traders. Jack asked the traders. The majority said "Reminiscences," was influential in there trading. It is no surprise that all the old timers claimed to read the same stuff! What I find about trading for a living is that there is really no one you can share your experience with without having him or her influence your trading. One thing is for sure, whoever wrote "Reminiscences," knew an awful lot about the development of Jesse's trading philosophy. Reminiscences does not delve into chart reading or technical analyses. It was before that. Livermore's genius is that Reminiscences lives today eighty years later, as a "traders mind mirror." "Reminiscences," echoes back your own thoughts reflected off of the mind of one of America's greatest securities traders. If you are new to the path or have lost your way, or just need a re-entry from a trading break. Reminiscences unfolds the philosophical foundation underlying "a way of life as a trader." No matter what your level of trading experience, if you are still alive "Reminiscences of a stock Operator," has something to offer you.
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Summary: Trading made simple!
Review: I am a Portfolio Manager for a pension fund. This book is a great way to understand momentum trading!
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Summary: READ THIS BOOK OR ELSE!
Review: There should be a law requiring all investors to read this book before spending a cent in the market. The lessons the book teaches is endless.
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Summary: Priceless Wisdom That Transcends Time and Space
Review: Bible class book for trading psychology. Also a strategic guide for market timing and money management in general. It is definitely an attention grabber as I read through the book. In my reading process I made countless marks on the pages with pearls of wisdom scattered all around, just to come back later for reference in my investment/trading activities. In China's budding stock market with a mere history of ten years and with a much heavier hue of speculation, I can also see the same scenes happening as depicted in the book, with the only difference being that the names of characters and stocks changed to Chinese counterparts. The same stories are repeating here and now. I am so much amazed that the trading psychology and philosophy and the underlying human nature are so much alike, Americans or Chinese, east or west. In addition to its unparalled collection of trading wisdom, Reminiscences is also very helpful in guiding you to better control your weaknesses in order to achieve success in other businesses or aspects of life where the weak points of human nature play a determining part. I have decided to make it a routine to read it once a year.
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Summary: There is no need to praise this book.
Review: Those who are interested in investing or day trading MUST read this book. This is also a must for those interested in human psychology. The author's greatness shines through every page here! Great easy read.
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Summary: If you can only read one trading book, this is it
Review: No kidding. I had read tens of trading books, written reviews of many, but I still always tell my friends that "if you can only read one trading book, this is it". Seldom you can find a trading book that's written like a fiction. However, there's much more "truth" in it than most technical and academic type textbooks, for you can always find situations that you can be so familiar with, especially to losers or non-star class of traders like me. Do you always beg for tips from brokers and neighbours? Do you always read newspapers or magazines for direction? Do you always find excuse for your non disciplined loss, and repeat the same mistakes that you had vowed not to repeat but cant stop yourself from doing stupid things? Read this book, and you get a better chance to quit these counterproductive habits. The author of the bestseller Market Wizard said that this was the most popular recommendation from the top traders he had interviewed. If riding the trend is a prerequisite for trading success, only losers should miss this book.
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Summary: No Finer Collection of Trading Wisdom
Review: There is a reason this book rates a mention on most lists of Wall Street Classics. Since it was published in 1923, generations of investors have found its trading advice rings true. The fictionalized biography of Jesse Livermore, one of the greatest stock market speculators, it contains perceptive trading advice and insightful analyses of market price movements. "I learned early that there is nothing new in Wall Street," states the book's protagonist, Larry Livingstone. "There can't be because speculation is as old as the hills. Whatever happens in the stock market today has happened before and will happen again." During the 1970's when this book was out of print, my friends and I would scrounge used bookshops in searching of copies of this gem. The reason: its pages contain precious pearls of wisdom with which experienced traders can identify, from which new traders can learn. Thankfully, this generation of traders will not have to go to the lengths mine did to access this wisdom. "I did precisely the wrong thing," Livingstone notes. "The cotton showed me a loss and I kept it. The wheat showed me a profit and I sold it out. Of all the speculative blunders there are few greater than trying to average a losing game. Always sell what shows you a loss and keep what shows you a profit." Livermore made and lost millions playing the stock and commodity markets. LeFevre, a journalist captures many of his timeless lessons in this book, which first appeared as a series in The Saturday Evening Post. There is, however, one Wall Street Pearl that did not make the book - "a speculator who dies rich, is a speculator who dies before his time." Livermore committed suicide in a bathroom of the Pierre Hotel and died a penniless man.
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Summary: Without doubt the Best Book on Trading ever written.
Review: The wisdom contained within these pages is nowhere else to be found. A book that can be reread over and over again. If you have any interest in trading whatsoever you must read this book. I currently work as a Stock Broker and I have been trading the markets for the past 14 years. Whenever a customer asks me about a recommended reading list I always put "Reminiscences" right at the top. "Market Wizards" and "The New Market Wizards" are right behind. These books capture the very nature of profitable trading in a way which is timeless. "Reminiscences of a Stock Operator" will remain the most highly regarded book on trading ever written for quite some time. Why? Because this book is as close to perfection as litterature gets...
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Summary: So....how can I explain this to you
Review: You don't see the answers to questions you never posed yourself. You can't learn until you are ready to learn. If you REALLY want to be a trader you'll need this book. If you have been trying hard but still haven't found your way you'll love this book. The harder you have tried and the more you have suffered the more you'll appreciate this book: you will find yourself in it. There is no question about this being the best book on trading. Whether or not you are ready for it that's another matter.
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