The charges against Darvas were dropped when Lefkowitz had to admit he did not have access to all of Darvas' financial accounts. In effect, all Lefkowitz accomplished was verifying that Darvas had a little over $200K profits in his US accounts. If you remember in his book "How I Made..", Darvas said that he opened accounts with other brokers when he accumulated a large sum. Apparently they were overseas brokers and Lefkowitz didn't get a hold of them before he leveled his charges.
As far as Livermores wife... very strange situation indeed. Make your own conclusions. ". It was Harriet's fifth marriage; all four of her previous husbands had committed suicide" A few other fun facts Jesse Jr. committed suicide with natural gas Feb. 20, 1976. Jesse III committed suicide by natural gas on Feb. 26, 2006. All three Jesses have taken their lives. http://en.wikipedia.org/wiki/Jesse_Lauriston_Livermore#Suicide Pretty depressing geez
I had forgotten about that-5 marriages,5 suicides.Quite amazing,that would be enough to drive a person insane,if you really loved those people.Guess some people are hard to live with.I always know when my mother in law is coming,the mice start throwing themselves in the traps. Depression is hereditary but i didn't know about the other jesse's Surprised nobody has a made a film
He was either manic/depressive (most likely) or simply suffering as suggested from chronic depression. I think he was not broke when he committed suicide (and I doubt that would have meant much to him if he were chipper and in good health) but more likely had simply realized that his illness was depleting his ability to make the big comeback. For some, living in comfort without being the top player is simply not enough. I believe he left a fair sized estate and in his prime he was a very dangerous man even with a small bankroll. Like Caesar he chronicled his own exploits and, either being a superb writer and story teller or having hired a ghost that was, he assured his reputation. I'm not suggesting he was not a supremely gifted trader but there were others that were certainly his peer. Keenne was just a bit before Livermore's time while Cutten was a contemporary and both were certainly of roughly equal talent. Some like DiMaggio ... others Mantle or Mays. Hard to fault any of them.
Indeed. Everybody living a normal life expectancy will experience at least one, if not two, major bull markets. Wait for the "end of the world", then load up long on margin, averaging up with every spare penny you have. This really is a simple, simple game...for people with patience...
One prominent economist once asked a colleague how long a depression could last. The reply was "how long did the dark ages last". When an Empire falls it is essential that another with the broadest of shoulders be ready, willing and able to SEAMLESSLY take the mantle. The current world problem is simple to define yet very difficult to cure. If (or I guess when) the US falls the turmoil will be significant. If it is a attenuated process it will be horrid but not cataclysmic. But if it is in a panic there really is not any one nation ready to step in and it is a fantasy to think that a consortium can hold the reins. There must be a brute -- a single brute -- that one and all fear. One must always trade with the bias that the music with not stop completely or for even a century. But that does not mean that the outcome is certain. It only means that there is a positive expectation in having one mindset and a negative on having another. But some stops get run that are miles and decades away from what any of us can imagine.
Very few people will ever experience "an Empire falls". And trading stocks is the last thing anybody should be thinking of on the rare occasions it does occur.
I'm not suggesting it will be impossible (or even necessarily difficult) to know when it has begun but all of the resources of the falling empire will be devoted to obscuring the fact that it is crumbling.