做期货的朋友，国内作者写的书唯一一本必须要读的书
《独自徘徊在天堂与地域之间》青泽我一口气看完，不可多得，属于一本磨练意志和强调操作守则的巨著。
你会爱不释手。 唯一缺点就是把国外李费佛吹得跟神一样，其实liver more最后还是死在人性上。。。 *d:1* 论坛有这书吗 哪里可以上传，我有电子版，今天一天上班都在看 原帖由 hpux 于 2009-8-13 16:04 发表 http://bbs.macd.cn/static/image/common/back.gif
唯一缺点就是把国外李费佛吹得跟神一样，其实liver more最后还是死在人性上。。。
怎么说呢？LIVERMORE其实就是投机之神 哈哈 十年一梦吧 原帖由 hpux 于 2009-8-13 16:04 发表 http://bbs.macd.cn/static/image/common/back.gif
唯一缺点就是把国外李费佛吹得跟神一样，其实liver more最后还是死在人性上。。。
liver more是死在人性上吗？莫要人云亦云。
书上说破产穷困潦倒，最后开枪自杀，真是这样吗？恐怕是相互抄袭吧。 原帖由 农夫的庄园 于 2009-8-14 08:20 发表 http://bbs.macd.cn/static/image/common/back.gif
liver more是死在人性上吗？莫要人云亦云。
书上说破产穷困潦倒，最后开枪自杀，真是这样吗？恐怕是相互抄袭吧。
这个就确实没去考证；但是没必要去了解他后期的太多。
我们只要学习他中期包括最衰败和最鼎盛时期的操作理念即可。 其实，推荐青泽这本书，主要学习的也是操作理念和抗压精神。 十年一梦 是 独 的修订本 加了2章的内容 现在市面上应该都是这个版本了
看的是热血沸腾有点中国版的 做手回忆录 味道
期待他的第二本书 可是已经3 4 年了 也没动静 Jesse Lauriston Livermore
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Jesse Lauriston Livermore
Born July 26, 1877(1877-07-26)
Acton, Massachusetts,United States
Died November 28, 1940 (aged 63)
New York, New York,United States
Cause of death suicide
Occupation Stock trader
Net worth US$100 million (1929)
Jesse Lauriston Livermore (July 26, 1877 — November 28, 1940), also known as the Boy Plunger, was an early 20th century stock trader. He was famed for making and losing several multi-million dollar fortunes and short selling during the stock market crashes in 1907 and 1929.
Contents
1 Overview
2 Wall Street success
3 Favorite book
4 After the Crash of '29
5 His book
6 Suicide
7 See also
8 References
9 Books
10 External links
Overview
Born in Acton, Massachusetts, Jesse Livermore started his trading career at the age of fifteen. He ran away from home with his mother's blessing to escape a life of farming his father wished him to have. He then began his career by posting stock quotes at the Paine Webber brokerage in Boston.
Marriages and Family
First wife, Netit (Nettie) Jordan. Second wife,Dorthea (Dorothy) Wendt. Two sons, Jesse Jr. and Paul. Third wife Harriett Metz Noble. Jesse Jr. married Toni Lanier(Camille Bernice Froomess) in 1937, divorced shortly there after. Went onto marry Evelyn Bletzer Sullivan. One son, Jesse III was born in 1939. Divorced Evelyn. Married third wife, Patricia. Jesse Jr. committed suicide with natural gas Feb. 20, 1976. His only son, Jesse III married Marsha Hawkins in 1964. Had two children David 1969 and Tracey 1973. Jesse III divorced Marsha. Married his second wife Karen, divorced. Third wife Carol. Jesse III committed suicide by natural gas on Feb. 26, 2006. Jesse III son, David is currently married with 3 daughters and one son. Jesse III's daughter is also currently married with one daughter. All three Jesse's have taken their lives.
While working, he would write down certain hunches he had about future market prices, which he would check for accuracy later. A friend convinced him to put his first actual money on the market by making a bet at a bucket shop, a type of gambling establishment that took bets on stock prices but did not actually buy or sell the stock.
By the age of fifteen, he had earned profits of over $1000 (which equates to about $20,000 today). In the next several years, he continued betting at the bucket shops. He was eventually banned from most bucket shops for winning too much money from them. He then moved to New York City and devoted his energies towards trading in legitimate markets. This change would lead him to devise a new set of rules to trade the market.
During his lifetime, Livermore gained and lost several multi-million dollar fortunes. Most notably, he was worth $3 million and $100 million after the 1907 and 1929 market crashes, respectively. He subsequently lost both fortunes. Apart from his success as a securities speculator, Livermore left traders a working philosophy for trading securities that emphasizes increasing the size of one's position as it goes in the right direction and cutting losses quickly.
Livermore sometimes did not follow his own rules strictly. He claimed that his lack of adherence to his own rules was the main reason for his losses after making his 1907 and 1929 fortunes.
The popular book Reminiscences of a Stock Operator, by Edwin Lefevre, reflects many of those lessons. Livermore himself wrote a less widely read book, "How to trade in stocks; the Livermore formula for combining time element and price". It was published in 1940, the same year he committed suicide. It was later revealed by Livermore that he had actually penned the book Reminiscences of a Stock Operator, and that LeFevre had acted as the editor and coach. There is some speculation that this partnership between the two men was not their first collaboration. Since LeFevre was a writer and journalist, it is thought that he was one of the friendly newspapermen that Livermore employed for both information and planted articles.
Wall Street success
Livermore first became famous after the Panic of 1907, when he short sold the market as it crashed. He noticed conditions where a lack of capital existed to buy stock. Accordingly, he predicted that there would be a sharp drop in prices when many speculators were simultaneously forced to sell by margin calls and a lack of credit. With the lack of capital, there would be no buyers in sight to absorb the sold stock, further driving down prices. After the crash and its aftermath, he was worth $3 million.
He proceeded to lose 90% of that 1907 fortune on a blown cotton trade. He violated many of his key rules; he listened to another person's advice (he preferred working alone) and added to a losing position. He continued losing money in the flat markets from 1908-1912. He was $1 million in debt and declared bankruptcy. He proceeded to regain his fortune and repay his creditors during the World War I bull market and resulting downtrend.
He owned a series of mansions around the world, each fully staffed with servants, a fleet of limousines, and a steel-hulled yacht for trips to Europe. He married Dorothy, a beautiful Ziegfeld Follies showgirl when he was about 40 years old.
Livermore continued to make money in the bull markets of the 1920s. In 1929, he noticed market conditions similar to that of the 1907 market. He began shorting various stocks and adding to his positions and they kept declining in price. When just about everyone in the markets lost money in the Wall Street crash of 1929, Livermore was worth $100 million after his short-selling profits.
Favorite book
One of Livermore's favorite books was Extraordinary Popular Delusions and the Madness of Crowds, by Charles Mackay, first published in 1841. This was also a favorite book of Bernard Baruch, a stock trader and close friend of Livermore who also was one of the few people that did well in the crash of 1929.
Jesse cited a lot of jokes, including an old story about "selling down to the sleeping point" from the book Speculation as a Fine Art by Dickson G. Watts.
After the Crash of '29
Dorothy finally filed for divorce and took up temporary residence in Reno, Nevada, with her new lover, (and later 2nd husband) Walter Longcope. On September 16, 1932, Dorothy divorced Livermore on grounds of desertion. They had been married since December 2, 1918 - 14 years. Dorothy retained custody of their boys.
On March 28, 1933, Livermore married 38 year old Harriet Metz Noble in Geneva, Illinois; there was no honeymoon. It was Harriet's fifth marriage, and all four of her previous husbands had committed suicide..
Through unknown mechanisms, he yet again lost much of his trading capital, accumulated through 1929. Thus, on March 7, 1934, the bankrupt Livermore was automatically suspended as a member of the Chicago Board of Trade. It was never disclosed to anyone what happened to the great fortune he had made in the crash of 1929, but he had lost it all.
His book
“ All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis. ”
—Jesse Livermore, How To Trade In Stocks
In late 1939, Livermore's son, Jesse Jr., suggested to his father that he write a book about his experiences and techniques in trading in the stock and commodity markets. This brought a flash of life back into Livermore, and the book was completed and published by Duell, Sloan and Pearce in March 1940. It was titled How To Trade In Stocks. The book did not sell well, World War II was underway, and the general interest in the stock market was low. His methods were still new and controversial at the time, and they received mixed reviews from stock market gurus of the period.
“ The game of speculation is the most uniformly fascinating game in the world. But it is not a game for the stupid, the mentally lazy, the person of inferior emotional balance, or the get-rich-quick adventurer. They will die poor. ”
—Jesse Livermore, How To Trade In Stocks
Suicide
In 1940, Livermore died at the age of 63 as the result of suicide. The police revealed that there was a suicide note of eight small handwritten pages in Livermore's personal notebook. It was reported in the November 30 issue of the New York Tribune. The press wanted to know what it said, and the police tersely responded: “There was a leather-bound memo book found in Mr. Livermore's pocket. It was addressed to his wife.” A police spokesman read from the notebook: “My dear Nina: Can’t help it. Things have been bad with me. I am tired of fighting. Can’t carry on any longer. This is the only way out. I am unworthy of your love. I am a failure. I am truly sorry, but this is the only way out for me. Love Laurie”.
Although untouchable trusts and cash assets at his death totalled over $5 million, Livermore had failed to regain his trading confidence before his death. A lifelong history of clinical depression had become the dominant factor in his final years.
See also
List of personalities associated with Wall Street
Wall Street Crash of 1929
References
^ Edwin Lefèvre (1923). Reminiscences of a Stock Operator. p. 14.
^ Edwin Lefèvre (1923). Reminiscences of a Stock Operator. p. 12.
^ Compute the Relative Value of a U.S. Dollar
^ Richard Smitten (October 21, 2004). Trade Like Jesse Livermore. p. 76.
^ Edwin Lefèvre (1923). Reminiscences of a Stock Operator. Chapter X, p. 98.
^ Richard Smitten (September 14, 2001). Jesse Livermore: The World's Greatest Stock Trader. p. 248.
^ Richard Smitten (September 14, 2001). Jesse Livermore: The World's Greatest Stock Trader. p. 250.
^ Richard Smitten (September 14, 2001). Jesse Livermore: The World's Greatest Stock Trader. p. 260.
^ Richard Smitten (September 14, 2001). Jesse Livermore: The World's Greatest Stock Trader. p. 276.
^ Richard Smitten (September 14, 2001). Jesse Livermore: The World's Greatest Stock Trader. p. 276.
^ Richard Smitten (September 14, 2001). Jesse Livermore: The World's Greatest Stock Trader. p. 281.
^ Richard Smitten (September 14, 2001). Jesse Livermore: The World's Greatest Stock Trader. pp. 281–182.
Books
1923 - Reminiscences of a Stock Operator by Edwin Lefèvre (best-selling biography of Livermore) multiple reissues since, last in January 17, 2006, by Roger Lowenstein (Foreword) (ISBN 0471770884 ISBN 978-0471770886) - PDF
1985 - Jesse Livermore - Speculator King by Paul Sarnoff (ISBN 0-934380-10-4)
2001 - Jesse Livermore: The World's Greatest Stock Trader by Richard Smitten (ISBN 0-471-02326-4)
2001 - How To Trade In Stocks by Jesse Livermore (ISBN 0-934380-75-9) (Originally published 1940) - PDF
2003 - Speculation as a Fine Art by Dickson G. Watts (ISBN 0-87034-056-5) - PDF
2004 - Trade Like Jesse Livermore by Richard Smitten (ISBN 0-471-65585-6) - PDF
2004 - Lessons from the Greatest Stock Traders of All Time, by John Boik
2006 - How Legendary Traders Made Millions, by John Boik
2007 - The Secret of Livermore:Analyzing the Market Key System., by Andras Nagy (ISBN 978-0975309377)
2009 - Covel, Michael W. (2009). Trend Following (Updated Edition): Learn to Make Millions in Up or Down Markets. FT Press. ISBN 0-13-702018-X.
External links
Wikiquote has a collection of quotations related to: Jesse Lauriston Livermore
Jesse Livermore - Stock Trader Extraordinaire
Jesse Livermore And His Legacy
Reminiscences of a Stock Operator by Edwin Lefèvre. Read online. Complete and unabridged.
Jesse Livermore - Profit from the World's Most Famous Speculator by Mark Skousen, Investment U
Jesse Livermore Timeline - The Timing Of Major Events In Jesse Livermore's Career.
Jesse Livermore photo album
The Modern Stock OperatorErik R. Kolodny, Stock Speculator 原帖由 ys19821029 于 2009-8-14 10:10 发表 http://bbs.macd.cn/static/image/common/back.gif
十年一梦 是 独 的修订本 加了2章的内容 现在市面上应该都是这个版本了
看的是热血沸腾有点中国版的 做手回忆录 味道
期待他的第二本书 可是已经3 4 年了 也没动静
同感，真的中国版做手，写的很真实；唯一的区别是作者没那么出名，但是他写的很让人热血沸腾，能把感受传导给我们。 具有可读性,已阅 一般 垃圾的很只能当了解期货历史轶闻看看！！其他没一点意思！！ 当小说看还可以！ 要是这书垃圾，国内也没基本书不垃圾了
你觉得做手就会比它好很多？ 不错的书==============
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