Jesse Livermore: Speculator King
$10.92
| Author(s) | |
|---|---|
| Pages |
145 |
| Format |
|
| Published Date |
1967 |
Jesse Livermore: Speculator King is a vivid biographical portrait of one of Wall Street’s most legendary—and controversial—figures. Known as the “Boy Plunger” and later as the “Great Bear of Wall Street,” Jesse Lauriston Livermore rose from humble beginnings to become a market titan who made and lost fortunes multiple times in the early 20th century .
The book traces Livermore’s meteoric career, beginning in the bucket shops of New England, where his uncanny ability to read tape movements made him a small fortune before he was even twenty. It follows his dramatic wins, including his role in the Panic of 1907, where he reportedly earned millions by shorting stocks while others collapsed . Yet just as remarkable as his triumphs were his spectacular downfalls: repeated bankruptcies, failed ventures in commodities such as cotton and wheat, and the psychological toll of market speculation .
Beyond the financial narrative, Speculator King portrays Livermore as a complex man—lavish, charismatic, and brilliant, but also restless and self-destructive. He built opulent estates, sailed luxury yachts, and lived a life of glamour, yet constantly battled with debt, failed marriages, and inner turmoil. His eventual suicide in 1940 underscored the tragic paradox of a man who seemed to master markets but never himself .
The book also delves into Livermore’s trading methods, such as “pivotal points” and “natural reactions,” later popularized in his own work How to Trade in Stocks. However, it is candid about the limitations of his system, showing that while he influenced technical analysis, his strategies could not shield him from ruin .
For traders, historians, and readers fascinated by Wall Street lore, Jesse Livermore: Speculator King offers both inspiration and caution. It is a story of brilliance and excess, of fortune and failure, capturing the life of a man whose legacy still resonates with anyone daring enough to speculate.
Contents:
– PART I: THE LIVERMORE LUCK
- WALL STREET WONDER
- BOY PLUNGER
- BUCKET-SHOP BAPTISM
- THE FIRST KILLING
- COTTON KING
- THE BIG LEAK
– PART II: THE LIVERMORE LIFE
- EVERMORE
- CUTTEN
- THE JIGGLERS, THE JUGGLERS
- TWILIGHT BATTLE
– PART III: THE LIVERMORE LEGACY
- THE LIVERMORE KEY
Jesse Livermore: Speculator King By Sarnoff PDF
3 reviews for Jesse Livermore: Speculator King
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Tracey Erickson (verified owner) –
Read this book if you want an author who gives you the negative perspective of Jesse Livermore’s life. The author believe Mr. Livermore was a complete failure who could not hold on to his money, leveraraged far to much debt, was an ego maniac, and womanizer. He also believes that the Livermore Key that was introduced in Livermore’s own book was a complete fraud, designed to confuse the masses and bring them to turn their money over for directed investment by Livermore or others. Livermore is a personal hero of mind not for his looses but his ability to make millions from scratch several times, his resiliency until late in life, and his ability to keep a calm head and enjoy life. While the author reduces him to nothing but a two bit market manipulator running cash pools to change prices. While most of the facts the author is correct about, I still hold Livermore in high esteem for his ability to go long or short for gains and for his being a lifelong student of the market. Read Richard Smitten’s book Jesse Livermore: World’s greatest stock trader for a more reverent look at his life, or Livermore’s own book How to trade in stocks for what the man himself wrote about his system.
Arturo Bird (verified owner) –
I bought this for my Dad upon a recommendation and he really enjoyed it. I didn’t read it myself but I’m sure it will cross my path eventually.
Cristopher Baxter (verified owner) –
Almost every trader on the planet knows all about Livermore and his world class trading acumen. But this author doesn’t buy it and I think he has a point.
Successful trading is about making money AND keeping it. Livermore seems to be able to make it (but only when the markets are volatile/moving) but never seems to be able to keep it, having gone broke several times in the past.
And it takes a special kind of genius/loser to make $1billion in profits (in today’s money) out of the crash of 1929 to then declare bankruptcy 5 or so years later. Nobody really knows how that’s possible. Perhaps it’s because a) a trader/Livermore starts to believe his own hype, and b) the markets start sloshing around hence buying high (looking for higher prices) only for the market to retreat and then go short (looking for lower prices) only for the market to reverse again.
But trading ranges, large or small, are a massive part of how the markets move so either learning to stay out or take advantage of them must be a (learned) skill of any trader/strategy.
The author also delves into Livermore running of pools and you know in those days before the start of massive regulations, they were a licence to steal and all round monkey business. If Livermore was heavily involved you know he was up to no good. But to be fair, everyone running pools in those days was up to no good.
Another interesting point to think about Livermore is if he only made money in big moving markets, up or down, then no wonder he suffered the financial pain that always seemed to come his way. I therefore say, Livermore was a one dimensional trader, probably THE best at milking a good move but good moves only come around (perhaps) once over a 5 year period. So during the tough times when prices don’t make the good moves he ends up pi**ing away most/all of his profits from the good times.
Overall, if you’re interested in Livermore this is a must read to give a balance to the man.