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Jesse Livermore: The World's Greatest Stock Trader

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Title: Jesse Livermore: The World's Greatest Stock Trader
by Richard Smitten
ISBN: 0-471-02326-4
Publisher: John Wiley & Sons
Pub. Date: 14 September, 2001
Format: Paperback
Volumes: 1
List Price(USD): $19.95
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Average Customer Rating: 3.55 (11 reviews)

Customer Reviews

Rating: 5
Summary: It's a biography, but also a great trading secrets book
Comment: People who don't understand TA, have no concept of what this excellently written book is saying. I derived over 12 pages of trading notes. Yes, it's an biography on JL who was a classic manic depressive and desperately needed to take Prozac. If he lived through this market crash, he would have been richer than Gates and Buffet put together, and a whole lot happier.
Read in to this book and you will derive the secret to market success.

Rating: 1
Summary: Very poorly written
Comment: Sorry for giving only 1 star: although the life story Livermore has been communicated to the reader, this book has been just too poorly written. I have never read a book so poorly written. The author simply gather all the raw materials together with little organization, and NO literary kill whatsoever. Worse, apparently the author did not proof read his manuscript, nor did an editor. It would be desirable for the author to collaborate with a true writer in writing this book. It is a shame, and the author even claimed in the preface that he knows about Jessie Livermore than anyone else: too bad that someone who knows him more than anyone else can't write a biography of him of even average quality. Just a couple example to let you have a flavor of this book: after quoting in more than one places that Livermore's wife called him "Laurie", in a much later part the author suddenly thought it necessary to explain that this may be a nickname they used between them. In many a part of the book, there are passages that, after describing someone involved in Livermore's life's event, immediately adding: he/she later became such and such; or, years later he/she would do such and such.

Now regardless the writing of the book, it does give facts, so let's just struggle to read it through and get what we want, the life of Jessie Livermore. All I can say is this: I started with the desire to know about the stock market, I ended with a very sad feeling. What I've found is a very, very sad story; almost everyone involved had a tragic life, a number of them tragic deaths as well. Get psychologically prepared before you read it.

Rating: 3
Summary: Read Reminiscences of a Stock Operator Instead
Comment: I have read "Reminiscences of a Stock Operator" three times now. The more I read it, the more I get out of it.

My main problem with this book is that 3/4 of the content regurgitates the events of "Reminiscences" almost verbatim. The writers approach however is to retell this story through reconstructing dialogue between Jessie (the protagonist) and all the various characters met in Reminiscences. I found this approach extremely irritating - especially since I was familiar enough with the original Reminiscences text to detect where the author had "made up" segments of the conversation using "artistic license to capture the flavor of the original conversations" (authors own admission).

The other 1/4 deals with Jessies private life, which although I found interesting, was plagued by the same "conversation reconstruction" style.

If you have already read reminiscences, and are truly hungry to learn more about Jessies private life and selected exploits after 1923 - then buy this book. If you have not read reminiscences, read it instead - you will learn far more out of the original source.

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