VOObyM

Recommendations

Info

about. I wouldn't dare tell him." Reminiscences of a Stock Operator "That's all right," said Haley soothingly. "He is a wonderful trader and he'll know just what to do." Seeing her shake her head violently he added devilishly: "Or else you put up a thousand or two to take care of your Borneo." The alternative decided her then and there. She hung about the office, but as the market got weaker and weaker she came over to where I sat watching the board and told me she wanted to speak to me. We went into the private office and she told me the whole story. So I just said to her: "You foolish little girl, you keep your hands off this deal." She promised that she would, and so I gave her back her five hundred dollars and she went away happy. The stock was par by that time. I saw what had happened. Wisenstein was an astute person. He figured that Mrs. Livingston would tell me what he had told her and I'd study the stock. He knew that activity always attracted me and I was known to swing a pretty fair line. I suppose he thought I'd buy ten or twenty thousand shares. It was one of the most cleverly planned and artistically propelled tips I've ever heard of. But it went wrong. It had to. In the first place, the lady had that very day received an unearned five hundred dollars and was therefore in a much more venturesome mood than usual. She wished to make some money all by herself, and womanlike dramatised the temptation so attractively that it was irresistible. She knew how I felt about stock speculation as practised by outsiders, and she didn't dare mention the matter to me. Wisenstein didn't size up her psychology right. He also was utterly wrong in his guess about the kind of trader I was. I never take tips and I was bearish on the entire market. The tactics that he thought would prove effective in inducing me to buy Borneo that is, the activity and the three-point rise were precisely what made me pick Borneo as a starter when I decided to sell the entire market. After I heard Mrs. Livingston's story I was keener than ever to sell Borneo. Every morning at the opening and every afternoon just before closing I let him have some stock regularly, until I saw a chance to take in my shorts at a handsome profit. It has always seemed to me the height of damfoolishness to trade on tips. I suppose I am - 171 -
Reminiscences of a Stock Operator not built the way a tip-taker is. I sometimes think that tip-takers are like drunkards. There are some who can't resist the craving and always look forward to those jags which they consider indispensable to their happiness. It is so easy to open your ears and let the tip in. To be told precisely what to do to be happy in such a manner that you can easily obey is the next nicest thing to being happy which is a mighty long first step toward the fulfilment of your heart's desire. It is not so much greed made blind by eagerness as it is hope bandaged by the unwillingness to do any thinking. And it is not only among the outside public that you find inveterate tip-takers. The professional trader on the floor of the New York Stock Exchange is quite as bad. I am definitely aware that no end of them cherish mistaken notions of me because I never give anybody tips. If I told the average man, "Sell yourself five thousand Steel!" he would do it on the spot. But if I tell him I am quite bearish on the entire market and give him my reasons in detail, he finds trouble in listening and after I'm done talking he will glare at me for wasting his time expressing my views on general conditions instead of giving him a direct and specific tip, like a real philanthropist of the type that is so abundant in Wall Street the sort who loves to put millions into the pockets of friends, acquaintances and utter strangers alike. The belief in miracles that all men cherish is born of immoderate indulgence in hope. There are people who go on hope sprees periodically and we all know the chronic hope drunkard that is held up before us as an exemplary optimist. Tip-takers are all they really are. I have an acquaintance, a member of the New York Stock Exchange, who was one of those who thought I was a selfish, cold-blooded pig because I never gave tips or put friends into things. One day this was some years ago he was talking to a newspaper man who casually mentioned that he had had it from a good source that G. O. H. was going up. My broker friend promptly bought a thousand shares and saw the price decline so quickly that he was out thirty-five hundred dollars before he could stop his loss. He met the newspaper man a day or two later, while he still was sore. "That was a hell of a tip you gave me," he complained. "What tip was that?" asked the reporter, who did not remember. "About G. O. H. You said you had it from a good source." - 172 -
Page 2 and 3:
November 28, 1940—Jesse Livermore
Page 4 and 5:
Dorothy Livermore and a friend in a
Page 7 and 8:
REMINISCENCES OF A STOCK OPERATOR b
Page 9 and 10:
Reminiscences of a Stock Operator m
Page 11 and 12:
Reminiscences of a Stock Operator "
Page 13 and 14:
and he hung up and told me to beat
Page 15 and 16:
Reminiscences of a Stock Operator B
Page 17 and 18:
Reminiscences of a Stock Operator a
Page 19 and 20:
Reminiscences of a Stock Operator C
Page 21 and 22:
Reminiscences of a Stock Operator c
Page 23 and 24:
Page 25 and 26:
Page 27 and 28:
Page 29 and 30:
Page 31 and 32:
Page 33 and 34:
Page 35 and 36:
Reminiscences of a Stock Operator t
Page 37 and 38:
Reminiscences of a Stock Operator w
Page 39 and 40:
Reminiscences of a Stock Operator W
Page 41 and 42:
Page 43 and 44:
Page 45 and 46:
Page 47 and 48:
Reminiscences of a Stock Operator I
Page 49 and 50:
Reminiscences of a Stock Operator S
Page 51 and 52:
Reminiscences of a Stock Operator g
Page 53 and 54:
Reminiscences of a Stock Operator T
Page 55 and 56:
Page 57 and 58:
Reminiscences of a Stock Operator h
Page 59 and 60:
Reminiscences of a Stock Operator o
Page 61 and 62:
Page 63 and 64:
Reminiscences of a Stock Operator r
Page 65 and 66:
Reminiscences of a Stock Operator p
Page 67 and 68:
Page 69 and 70:
Page 71 and 72:
"The tape says they're buying it,"
Page 73 and 74:
Page 75 and 76:
Page 77 and 78:
standing by the ticker, looking at
Page 79 and 80:
Reminiscences of a Stock Operator s
Page 81 and 82:
Page 83 and 84:
Reminiscences of a Stock Operator n
Page 85 and 86:
Page 87 and 88:
Page 89 and 90:
Page 91 and 92:
Page 93 and 94:
Page 95 and 96:
Page 97 and 98:
Page 99 and 100:
Page 101 and 102:
Page 103 and 104:
Reminiscences of a Stock Operator W
Page 105 and 106:
Page 107 and 108:
Reminiscences of a Stock Operator O
Page 109 and 110:
Reminiscences of a Stock Operator f
Page 111 and 112:
Page 113 and 114:
Page 115 and 116:
Reminiscences of a Stock Operator p
Page 117 and 118:
Reminiscences of a Stock Operator h
Page 119 and 120:
Page 121 and 122:
Reminiscences of a Stock Operator O
Page 123 and 124:
Reminiscences of a Stock Operator u
Page 125 and 126:
would not have known it then. Remin
Page 127 and 128: Reminiscences of a Stock Operator C
Page 129 and 130: Reminiscences of a Stock Operator I
Page 131 and 132: Reminiscences of a Stock Operator "
Page 133 and 134: Reminiscences of a Stock Operator t
Page 135 and 136: Reminiscences of a Stock Operator h
Page 137 and 138: Reminiscences of a Stock Operator w
Page 145 and 146: Reminiscences of a Stock Operator m
Page 147 and 148: Reminiscences of a Stock Operator s
Page 151 and 152: Reminiscences of a Stock Operator g
Page 155 and 156: Reminiscences of a Stock Operator n
Page 159 and 160: Reminiscences of a Stock Operator 9
Page 161 and 162: Reminiscences of a Stock Operator f
Page 171 and 172: Reminiscences of a Stock Operator c
Page 175 and 176: Reminiscences of a Stock Operator I
Page 177: Reminiscences of a Stock Operator H
Page 181 and 182: "Made sixty thousand dollars?" Remi
Page 189 and 190: Reminiscences of a Stock Operator p
Page 191 and 192: Reminiscences of a Stock Operator W
Page 197 and 198: Reminiscences of a Stock Operator i
Page 201 and 202: Reminiscences of a Stock Operator T
Page 209 and 210: Reminiscences of a Stock Operator u
Page 211 and 212: Reminiscences of a Stock Operator f
Page 213 and 214: Reminiscences of a Stock Operator r
Page 219 and 220: Reminiscences of a Stock Operator h
Page 223 and 224: Reminiscences of a Stock Operator d
Page 225 and 226: Reminiscences of a Stock Operator a
Page 229 and 230:
Page 231 and 232:
Reminiscences of a Stock Operator b
Page 233 and 234:
Page 235 and 236:
Page 237 and 238:
Page 239 and 240:
Reminiscences of a Stock Operator A
Page 241 and 242:
Page 243 and 244:
Page 245 and 246:
Page 247 and 248:
"What stock?" I asked him. Reminisc
Page 249 and 250:
Page 251 and 252:
Page 253 and 254:
Page 255 and 256:
Page 257 and 258:
Page 259 and 260:
Reminiscences of a Stock Operator l
Page 261 and 262:
Page 263:
show all

VOObyM

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?