Reminiscences of a stock operator
by Edwin Lefèvre, Price Tim, Roger Lowenstein, Richard Richard Wyckoff, Richard D. Wyckoff · first published 1923
73% recommend24% neutral3% critical
Why HN recommends it
Fictionalized account of a legendary trader, from 1900s bucket shops to 1920s Wall Street. Valued for its trading psychology and market manipulation lessons that still apply; suits anyone curious about trading.
Summarised by Claude from recommending comments
Based on interviews with trader Jesse Livermore, called Larry Livingston in the book.
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Reminiscences of a Stock Operator, Edwin Lefevre Absolute classic. Beyond Candlesticks: New Japanese Charting Techniques Revealed, Steve Nison You might not end up using candlesticks, but they help you understand time/strength in stock…
on “Ask HN: Best resources for trading noobs” ↗For those interested in this kind of story, and manipulation of markets in general, one of the best books I've read on the subject, published in 1923: Reminiscences of a Stock Operator http://www.amazon.com/Reminiscences-Stock-Operator-Edwin-Lef...
on “How Porsche hacked the financial system and made a killing (2009)” ↗"Steve Jobs" by Walter Isaacson http://www.amazon.com/Steve-Jobs-Walter-Isaacson/dp/14516485... "Liar's Poker" by Michael Lewis http://www.amazon.com/Liars-Poker-Michael-Lewis/dp/039333869... "Reminiscences of a Stock Operator" by Edwin Lefevre http://www.amazon.com/Reminiscences-Stock-Operator-Commentar... "The Big Miss: My Years Coaching Tiger Woods" by Hank Haney http://www.amazon.com/Big-Miss-Years-Coaching-Tiger/dp/03079...…
on “Ask HN: Best books you read in 2012” ↗…like no other, especially remarkable considering when it was written. The Market Wizards books, at least the first two, are pretty much required reading. The only book I might add to the list would be Reminiscences of a Stock Operator[1]. While admittedly I didn't find it as useful as the other books, it's still a good read and widely considered to be the seminal book on trading. [0] https://www.robinhood.com/ [1] http://www.amazon.com/Reminiscences-Stock-Operator-Edwin-Lef...
on “Ask HN: Automate Stock Trading?” ↗We're coming off a multigenerational bull market. So writings are a tad unrealistically optimistic. For a slight counterexample, or a dose of reality: Reminiscences of a Stock Operator by Edwin Lefèvre Where are the Customers Yachts by Fred Schwed Nothing has really changed psychologically since those books. The same people are doing the same things for the same reasons, just with…
on “Ask HN: How did you learn about stocks and the market?” ↗…importance of getting your psyche under control!) Japanese Candlestick Charting Techniques by Steve Nison Market Wizards by Jack Schwager (these are well worth reading) And of course, the timeless classic, Reminiscences of a Stock Operator by Edwin Lefevre Good luck!
on “Ask HN: How did you learn about stocks and the market?” ↗…common for people to begin in the mail room and work their way up to CEO. Exchange floor traders would frequently start as clerks and runners." One of the most famous examples: Jesse Livermore[1], whose Reminiscences of a Stock Operator[2] is one of the most recommended trading books ever. (I recommend it too. It's awesome.) He never climbed the corporate ladder, but did start out writing prices on a blackboard for a brokerage. He…
on “So you want to be a trader?” ↗I don't have an answer for you, but Reminiscences of a Stock Operator is required reading for anyone interested in the history of securities markets. It's fictionalized autobiography of a legendary trader in the 1920s. It could have been written yesterday or a thousand…
on “Coinbase says buying and selling temporarily disabled amid price rout” ↗Reminiscences of a Stock Operator Fascinating story of a fabled trader from the bucket shops of mid-America in the Gaslight era to the roaring twenties on Wall Street. https://smile.amazon.com/Reminiscences-Stock-Operator-Commen...
on “Ask HN: What's one book that changed your life?” ↗…frequently). These books are more about characters and stories, more than traditional non-fiction. My Life as a Quant by Emanuel Derman The Quants by Scott Patterson A Man for All Markets by Edward O. Thorp Reminiscences of a Stock Operator by Edwin Lefevre Flash Boys by Michael Lewis
on “Ask HN: What article/book do you recommend for my next flight?” ↗Reminiscences of a Stock Operator is from 1923 and is considered an investing classic. It is a good read (and still relevant) if you are remotely interested in trading.
on “Digitized Books from 1923 Now Available at the Internet Archive” ↗If you like this book, then you'll also like Reminiscences of a Stock Operator, which is a fictionalized account of an occasionally successful stock trader named Jesse Lauriston Livermore who was born in 1877. It doesn't sound captivating, but it is. https://en.wikipedia.org/wiki/Reminiscences_of_a_Stock_Opera...
on “Oxide Computer Company: Initial boot sequence” ↗Reminiscences of a Stock Operator by Lefevre and Security Analysis by Graham and Dodd
on “Ask HN: Introductory Books on the Stock Market?” ↗If you like books on finance and history, “Reminiscences of a Stock Operator” by Edwin Lefèvre is also an excellent book, and an interesting view into early Wall Street.
on “Ask HN: Recommend books that give you insight into other professions” ↗Reminiscences of a Stock Operator by Edwin Lefèvre (1923). Inspired by the life of stock trader Jesse Livermore in the late 1800s to early 1900s. The narrator starts trading in bucket shops (antique equivalent of Robinhood), makes and…
on “Ask HN: What's the best book you read in 2021?” ↗