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.
For example:
"It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I've known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine--that is, they made no real money out of it. Men who can both be right and sit tight are uncommon."
If you've ever spent weekends and nights puzzling over whether to buy, sell, or hold a position in whatever investment--be it stock, bonds, or pork bellies, you'll be glad that you read this book. Reminiscences of a Stock Operator is full of lessons that are as relevant today as they were in 1923 when the book was first published. Highly recommended.
Stock investing is a relatively recent phenomenon and the inventory of true classics is somewhat slim. When asked, people in the know will always list books by Benjamin Graham, Burton G. Malkiel's A Random Walk Down Wall Street, and Common Stocks and Uncommon Profits and Other Writings by Philip A. Fisher. You'll know you're getting really good advice if they also mention Reminiscences of a Stock Operator by Edwin Lefèvre.
Despite being written in the early 1920's, Reminiscences of a Stock Operator continues to be the most useful and most-loved book ever written on the subject of trading and speculation. In this novel, LeFevre brilliantly describes the life and times of the book's protagonist, Larry Livingston, a pseudonym for Jesse Livermore, one of history's most famous traders.
Livingston never considered himself an investor; he was a speculator. He didn't mind being long or short, he just wanted to be correct. His approach was to figure out what the path of least resistance was and then go with the flow. He didn't believe in picking tops or bottoms; he waited for a trend to be confirmed and then jumped in, thus never fighting the tape. Livingston never traded out of boredom or solely for the sake of the excitement it brought to him. He knew that he could get rich by following a defined trend and thus calmly waited on the sidelines when the market was directionless. Had Livingston been alive today he would certainly be a momentum/price action based trader.
Although a sizeable portion of the book vividly describes the highs and lows of Livingston's exciting life, the meat of the book comes in the form of trading commandments that every successful trader can likely repeat even while asleep. These are the trading rules that have been passed down from mothers to daughters, fathers to sons, mentors to students, winners to losers. This is the book from which almost every subsequent general trading book is derived. If you have ever wondered where the trading rule "Never average down" came from, just turn to page 154. Where did the comparison between greed and fear first originate? You'll find it on page 130.
Some other rules to live by that were introduced in LeFevre's book are:
-The trend is your friend.
-History repeats itself.
-No stock is too high to buy or too low to sell.
-Let your winners run and cut your losses quickly.
For beginners, this book will give you a strong and sturdy foundation on which you can build your successful trading career. It will fill your absorbent trading mind with vitally important trading principles in a clear and understandable manner. For experienced traders, reading this book again will galvanize your mind and refresh your spirit for trading. It brings clarity as to why we trade and how to best go about it. This is a must read for beginners and a must re-read for all others.
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26 January 2009
Reminiscences of a Stock Operator by Edwin Lefèvre (A biography of Jesse Livermore)
04 January 2009
Terrorist Recognition Handbook 2nd Edition
Terrorist Recognition Handbook: A Practitioner's Manual for Predicting and Identifying Terrorist Activities, Second Edition
By Malcolm Nance
Publisher: CRC
Number Of Pages: 480
Publication Date: 2008-04-14
ISBN-10 / ASIN: 1420071831
ISBN-13 / EAN: 9781420071832
Binding: Paperback
Written by a 20-year veteran of the U.S. intelligence community, this second edition reflects the latest geopolitical factors affecting global terrorist incidents and regional insurgencies. A new section includes an analysis of transformations within Al Qaeda, coverage of the modern insurgency, and new global and regional terrorist groups. Completely updated, the section on terrorist tactics reveals the latest trends and attack methods and includes a new chapter on previously unseen suicide bombings. This book is an invaluable training tool on how to identify an attack; how to mitigate damage from successful attacks; and how to recognize the various stages of developing terrorist plots.
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Building Websites with Joomla! 1.5
Joomla! started as a fork from Mambo in 2005, when many of the original developers of the Mambo CMS moved to working on Joomla! It has rapidly grown in popularity and, according to its own description, is a "Cutting Edge Content Management System and one of the most powerful Open Source Content Management systems in the world. It is used world-wide for anything from simple homepages to complicated corporate websites. It is easy to install, easy to manage and very reliable."
While the Joomla! CMS has the flexibility and power needed for complex, full-featured web applications, it is also simple to use to create basic websites. Its powerful, extensible template system can deal many different data types and control of user access, approval of content, scheduling of content display, and rich administrative controls are all included.
This book takes the reader through the tasks essential to create a Joomla! website as rapidly as possible. The necessary tasks are explained with clear step-by-step instructions. The author’s chatty and engaging style makes this book very readable.
This book is suitable for web developers, designers, webmasters, content editors, and marketing professionals who want to develop a website in a simple and straightforward process. It does not require any detailed knowledge of programming or web development, and any IT-confident individual will be able to use the book to produce an impressive website.
Publisher: Packet Publishing (March 28, 2008)
Language: English
ISBN-10: 184719530X
ISBN-13: 978-1847195302
Size: 15.7MB
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Great Sex Tips
ISBN 0-7894-7143-4 | PDF 122 Pages | DK Publishing | 8.2 MB
Increase erotic enjoyment with this little book packed with hot ideas to inspire and arouse.
Heighten passion and enhance lovemaking skills with Anne Hooper's adventurous guide toerotic tricks and techniques. Guaranteed to tantalize, the tips cover the full spectrumn of sexula experience, from saucy seduction to spine tingling foreplay and fantast.
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: Excel 2007 for Scientists and Engineers, 2nd Edition
ISBN : 1932802355 | PDF 275 pages | 15MB
With examples from the world of science and engineering, this reference teaches scientists how to create graphs, analyze statistics and regressions, and plot and organize scientific data. Physicists and engineers can learn the tips and techniques of Excel and tailor them specifically to their experiments, designs, and research.
This book will show the readers when to use NORMDIST vs NORMSDist and CONFIDENCE vs Z, how to keep data-validation lists on a hidden worksheet, use pivot tables to chart frequency distribution, generate random samples with various characteristics, and much more.
It is ideal for students and professionals alike, this handbook will enable greater productivity and efficiency.
Dr. Gerard Verschuuren is a Microsoft Certified Professional specialized in VB, VBA, and VB.NET. He has more than 20 years of experience teaching at colleges and corporations and is the author of many textbooks. He lives in Atkinson, New Hampshire
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