I just read Reminiscences of a Stock Operator again for umpteenth time - such a fun book to read - but for the first time since I joined ET. I've got a question I always wondered about that I hope some of the more enlightened souls here may be able to answer. Are the numbers Lefevre talks about real? For example, there's a trade where Livingstone, or rather Livermore, is buying US Steel and Utah Copper. "I began by buying 5000 shares of Utah Copper and stopped because it didn't act right. ... I think the price was around 114. ... I also started buying US Steel at almost the same price. I bought in all 20,000 shares ... I continued to accumulate it until I was carrying 72,000 shares..." Firstly, does anyone know, or know where I can find out, the volume that was traded back in the early part of the 20th century? Secondly, 5000 @ $114 is $570,000. The equivalent in today's money, assuming a mere 5% inflation, is $7,000,000, yet there's Livermore coolly "accumulating" 72,000 shares of Steel - a mere $500,000,000 position, cassuming 5%! (which he sold within a point of the top price mind you!) And if we assume that inflation was only 5%, how the hell could the "ordinary" investor afford even one share of something like Anaconda, which we here selling for around $300, which would be about $20,000 in today's money (5%)? I love reading "Reminiscences", probably cos it all happened so long ago, and here we are today and the same stuff happens. It's funny how Livermore, someone with such an insight into the trading mind that we are still listening nearly century on, was so clueless about protecting the wealth he had.