Just finished Reminiscences of a Stock Operator: and The Investment Strategies of Jesse Livermore by Edwin Lefèvre and I found it entertaining and full of quotes for a stock fanatic like myself. The biography chronicles the life of Jesse Livermore, a trader born in the late 19th century who made and lost fortunes speculating on the prices of stocks and commodities.
My first take on the book was that for a dividend growth investor like myself this is more a book for amusement rather than a book to learn from. But, the book contained a lot of interesting aspects from a market psychology point of view and early thoughts on behavioral finance still valid today.
«Speculators buy the trend; investors are in for the long haul; “they are a different breed of cats.” One reason that people lose money today is that they have lost sight of this distinction; they profess to have the long term in mind and yet cannot resist following where the hot money has led.» – Edwin Lefévre
- Author: Edwin Lefèvre
- Originally Published: 1923
- Genre: Finance
- Pages: 288
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