Reminiscences of a Stock Operator is a 1923 roman à clef by American author Edwin Lefèvre. It is told in the first person by a character inspired by the life of stock trader Jesse Livermore up to that point. The book remains in print and is considered one of the most important and influential books ever written about the stock market.
The book is divided into three parts. The first part follows the protagonist as he learns the basics of stock trading and begins to make money. The second part chronicles his rise to prominence as one of the most successful traders on Wall Street. The third part tells the story of his downfall and eventual bankruptcy.
Throughout the book, the protagonist shares his insights into the psychology of the market and the secrets of successful trading. He emphasizes the importance of discipline, risk management, and patience. He also warns about the dangers of greed and overconfidence.
Some of the most famous quotes from the book include:
- “The stock market is a place where people go to be wrong.”
- “If you can’t stand a loss, you ought not to play the market.”
- “The more you make, the more you want to make.”
- “The tape is the only thing that tells you the truth.”
Reminiscences of a Stock Operator is a timeless classic that is still relevant today. It is a must-read for anyone who is interested in learning about the stock market or who wants to improve their trading skills.
In addition to its timeless insights into the stock market, Reminiscences of a Stock Operator is also a well-written and engaging story. The protagonist is a complex and fascinating character, and the book is full of drama and suspense.
If you are interested in learning more about the stock market or if you are simply looking for a good read, I highly recommend Reminiscences of a Stock Operator.