Yes, I neglected to mention that I read his book first and enjoyed it very much...so much of what he says can apply to even today.... Talking about books..I just ordered from Overstock.com (my first order from them so we'll see) How I Made $2,000,000 In The Stock Market---Nicolas Darvis Wall Street, The Other Las Vegas-----------------Nicolas Darvis Stock Market Wizards--------------------------------Jack Schwager and they even had a book that I had originally purchased like 20-30 years ago that I had loaned out and never received back and the book was banned by many...very funny book by Abbie Hoffman called: "STEAL THIS BOOK" I couldn't believe my eyes when I saw Overstock had it for only $8. If you do a google search for "Steal This Book" I think some of it or maybe all of it is available online..not sure anymore though.
id treat the market wizards books with caution. i was misquoted when i was interviewed and i dont really agree with the perspective in what i said and how it was presented. may be im just bitter that my 15 min of fame came out all wrong. im such a blurt!!
Schwager mentions that all interviewees have first right of refusal. So if you say anything or he quotes you incorrectly, you have the option to delete it before the printing of the book. You really should read more carefully the books that tell about the people you emulate.
Do you include these posts as well in your admonition? Well, I hope, for everyones sake, the right words come out at the right time, always. Cheers.
Man oh man!! What a weasel. You know nothing of the guy, and yet claim him an impotent trader... If you read like this, watch your butt. It seems that the interpretations of your readings are distorted. There are gems lying out there in the teachings of this trader that you so, gratuitously disqualify. Livermore committed suicide because of his personal problems. His son explains that his last wife, took Livermore's money from the safe to avoid "sharing" it. His life was a failure, I guess, if you consider that his first wife shot one of his two sons, she was an alcoholic, the son a criminal. She wasted the fortune he left her, and he was generous: stocks, the house, the furniture, the rolls. To give you and idea, his wife cut the legs off a $50,000 desk he left with her, because the floor of his once beautiful mansion was sinking... The guy weeped when he read this in the newspaper. As a trader, he made $100 million shorting the crash of '29, cornered cotton right after world war II... Give me a break! Read his life, will you, and start showing a little respect to the memory of a guy that surely deserves it among his fellow traders. If you can ever call yourself a trader... BTW, your first lesson should be that trading is awfully tough. Mind you, if he lost most of it outside of the markets. Like Niederhoffer states, one should give the wife some winnings that we traders can never touch.
You kind of sum it up nicely. Let the man rest in peace. Fifty years from now, few if any of the above posters will be remembered as a trader. Wasting their time and ET storage space by lamenting about a man's psychology and marital problems whom they never met or knew. This probably also sums up their attitude about their own trading: pretty detached and unfocussed, not knowing what they are dealing with.
WWI, actually. JL died before the end of WWII. Agree with your post. Also, it was supposedly common knowledge among his friends that JL suffered from bouts of severe depression - even in 1929 when he had everything going for him.
I quote someone from their book I am reading and you get your panties all bunched up and come on like a personal attack against me....Livermore must be your hero if you call yourself him here but your out of line coming after me the way you did.. I quoted what the guy said in his book and even included that the guy said Livermore's book was great so chill out and peace out and don't even try to make it personal against me....ever!