I think he was bipolar which meant at times he was able to take incredible risks that other people wouldnt have been able to do. Makes sense because they have found that people with mental disorders are capable of taking huge risks because there emotions are underdeveloped.
efficiency, Your post was very interesting and contained a lot of details about Livermore that I have not seen anywhere else. What source(s) did you use?
The guy went bankrupt several times and finally shot himself in the head sitting alone in a toilet. He died bankrupt. so much for his market wisdom. lol.
The guy wrote the book trying to raise money for his next stake after filing for bankruptcy. I have one of the few copies he ever autographed and I can safely state there is nothing in that book that can help anyone become a better trader. To get an idea of trend trading , you're better off reading the free Turtle trading source material online.
There are some nuggets in the book...but todays trader doesn't have the luxury of cornering markets like livermore and his groups did.
Get your facts straight: "Although untouchable trusts and cash assets at his death totalled over $5 million, he had failed to regain his trading confidence by his death. A lifelong history of clinical depression had finally become the dominant factor in his final years." http://en.wikipedia.org/wiki/Jesse_Livermore