Maybe if you had a few Z`s...but 50lbs is a far cry from "your honor its for personal use only". Get real man...you F`d up moving size like that.
Jesse Livermore the World Greatest Stock Trader by Richard Smitten "The real life story of the reminiscences of a stock operator legend" Smitten actually bought the name Jesse Livermore along with the family pictures and all. The book has some great pictures too.
I like Jesse Livermore World's greatest stock trader by Richard Smitten. Here is a short quote from the first page: " In 1923, seven men who had made it to the top of the financial success pyramid met..... What happened to them? Schwab and Cutten both died broke, Whitney spent years of his life in Sing Sing penitentiary, Fall also spent years in prison.... Livermore,Fraser and Kruegger, committed suicede."
I think what people don't realize about livermore's trading is that what costed him his great fortune was probably what got him it in the first place. His lack of money management is probably how he achieved his oversized returns. If he had achieved discipline money management he probably would have made as much money. If you read his books you can tell he would create major positions or "swung a major line" when he believed in a move. great reward/great risk
lmao!!!! Should be a sticky. Great thread. loza, on a serious note, my state spends more on incarcerating people than education them. Most of the people there are non-violent offenders. It's a complete waste of money, and one of the reasons American is in serious decline, that we have 5 states that spend more money on prisons than schools, and it's a close race in much of the rest of the 49 states. So, do not mistake my reaction with the fact that I'm not a libertarian who thinks the fact I and every one else here who agrees with me resents that government is forcing us to spend our money to lock your ass up and spend money prosecuting you because you decided to carry some weed. This is the kind of SHIT that pisses me off. It's one of many leading indicators of America's fall from grace. We have a nation where some 18 year old with some weed gets more jail time than a true asshole who didn't something violent against a woman or child, or another innocent bystander. It's the only way that those in the prison building trade can keep the profits rolling in - make prison sentences easy for anyone, by virtue of state law and federal statute. It only takes paying off a few politicians, strategically selected. It's FUBAR.
An oft overlooked lesson is how he reentered the market after a blowout...on only the esteem he was held in by his peers. For all his faults, he was considered 'bankable'. Pretty damn rare given the vaguaries of the markets. That, more than anything else, is the rule by which he should be measured. And a lesson ignored today, I might add. Other than that, this thread has given me a book that I shall have to hunt down, having read other greats (Wyckoff, Elliot, Gann, etc etc). Study reveals where much of their theories dovetail...not sitting here bitchin' about em. ;~)