Saturday, September 3, 2011

Edwin Lefèvre (1923). Reminiscences of a Stock Operator

Reminiscences of a Stock Operator is the thinly disguised biography of Jesse Livermore, a remarkable character who first started speculating in New England bucket shops at the turn of the century. Livermore, who was banned from these shady operations because of his winning ways, soon moved to Wall Street where he made and lost his fortune several times over. What makes this book so valuable are the observations that Lefèvre records about investing, speculating, and the nature of the market itself.

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李佛莫13岁就开始在一家股票公司里打工,当股价翻版boy。结果,他发现他特别善于记忆图像。慢慢地,他从这些图像中发现了规律。就是每一种股票跌涨时的图像很相似。换句话说,你可以根据一段时间内的股价图像,判断出近期升降的走向。

14岁时,有一天,在交易所吃午饭时,一个一起打工的男孩子过来问他有没有钱,说他得到一些内部消息,某股票最近很可能大涨,他们可以合伙买一点,赚些钱。李佛莫很好奇,他从来没trade过股票,也从没玩过任何赌博游戏。他感兴趣的是这个消息和他的图像是否吻合。 于是,他赶快掏出自己的小笔记本,找到记录的那家股票。果然,股票的图像是上升的趋势。他就尽其所有,和那个男孩子一起买了几股。几天后,他赚了$3.12。从此,开始了他独特的股市生涯。

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