My Favorite Jesse Livermore Quote:

[TheBramble]

Was it Jesse or Leroy Livermore who made the above quote?

Apologies. My creole humour dun got the better of me.

 

[bobflorida1]

Poor Jesse - all that money and lavish living did not prevent his wife from shooting his son - or his son from shooting up the town - perhaps his god failed him? Let's get on with trading, and not neglect to give to our loved ones a share of our lives.

 

[-oo0(GoldTrader)]

Partridge

" I t did, and I am much obliged to you, my dear boy. But I
couldn’t' think of selling that stock. "

"You couldn’t' t?" asked Elmer, beginning to look doubtful
himself . I t is s a habit with most tip givers to be tip takers.

"No, I couldn’t' t . "

"Why not?" And Elmer drew nearer.

"Why, this I s a bull market !" The old fellow said it as
though he had given a long and detailed explanation on.

 

[new_trader]

Genius

"A man can't spend years at one thing and not acquire a habitual attitude towards it quite unlike that of the average beginner. The difference distinguishes the professional from the amateur. It is the way a man looks at things that makes or loses money for him in the speculative markets. The public has the dilettante's point of view toward his own effort. The ego obtrudes itself unduly and the thinking therefore is not deep or exhaustive. The professional concerns himself with doing the right thing rather than with making money, knowing that the profit takes care of itself if the other things are attended to. A trader gets to play the game as the professional billiard player does -- that is, he looks far ahead instead of considering the particular shot before him. It gets to be an instinct to play for position."

 

[-oo0(GoldTrader)]

he looks far ahead instead of considering the particular shot before him. It gets to be an instinct to play for position."

Excellent Nt, excellent.

 

[trader_dante]

He wasn't crap at exits, he was a tape reader - he usually got out at the very top/bottom.

The first few times he blew up were when he was still learning. After he figured out his method he blew up again after letting someone get in his head. Not sure how he blew up after 1929, and judging by the fact that he needed to 'mortgage' his wife's jewellery he blew up a couple times in between.

When I first read about Livermore I was astounded and inspired that a man could make $100m (1bn in todays money) from near enough a standing start and in such a short space of time.

When I read and tested his market key, I have to say that it doesn't surprise me in the least.

 

[Benji871]

What is/do you mean by "Market Key". Could you explain it to me? (I am currently reading reminiscences of a stock operator - Annotated Edition.)

 

[-oo0(GoldTrader)]

I don't think it is in there.

What is/do you mean by "Market Key."

Keep reading..

 

[Black Swan]

Livermore's death note;

“My dear Nina: Can’t help it. Things have been bad with me. I am tired of fighting. Can’t carry on any longer. This is the only way out. I am unworthy of your love. I am a failure. I am truly sorry, but this is the only way out for me. Love Laurie”.

 

[Benji871]

I don't think it is in there.Keep reading..

I think your right. Its in "How to trade stocks" 1940 edition.

 

[TheBramble]

"You sure this thing ain't loaded?".

 

[robster970]

"Where's my washboard!"

 

[Black Swan]

"You sure this thing ain't loaded?".

D'ya know what, I thought about posting something along those lines but thought it would be in bad taste..

Here's a thing, his last wife had 'lost' her four previous husbands to suicide..now given the fact that trading is a probability based game..

 

[nunrgguy]

Yeah but you know he perhaps thought that each individual death is a separate event so even though there was a run of 4 in a row his chances were still 50/50.

 

[barryb]

D'ya know what, I thought about posting something along those lines but thought it would be in bad taste..

Here's a thing, his last wife had 'lost' her four previous husbands to suicide..now given the fact that trading is a probability based game..

A coincidence, i think not. She must've been one hell of a manipulator.

 

[TheBramble]

Assuming she collected on the insurance/estate from all five, I reckon she probably had more of an edge than old Jesse.

 

[barryb]

Assuming she collected on the insurance/estate from all five, I reckon she probably had more of an edge than old Jesse.

A very large edge indeed.

She preyed on the mentally unstable by the sounds of it, and what's more worrying is that Jesse thanked her to the end when she no doubt hastened his revolver moment!

 

[brettus]

Livermore's death note;

“My dear Nina: Can’t help it. Things have been bad with me. I am tired of fighting. Can’t carry on any longer. This is the only way out. I am unworthy of your love. I am a failure. I am truly sorry, but this is the only way out for me. Love Laurie”.

I think this is legendary. Money and women accomplished. Nothing else in life left to do, so ends it. Knowing that he probably could accomplish anything he did, would make life very dull.

 

[barryb]

I think this is legendary. Money and women accomplished. Nothing else in life left to do, so ends it. Knowing that he probably could accomplish anything he did, would make life very dull.

I'm not sure how you've come to that conclusion from what he wrote, i'd say it's the opposite...

 

[brettus]

I'm not sure how you've come to that conclusion from what he wrote, i'd say it's the opposite...

Yea but he made it 3 times. Even if he lost it. He lived that high life for a while at least...