Jesse Livermore

Legendary stock speculator, pioneer of tape reading and trend following

48 principlesSpeculationUSABorn 1877

"There is nothing new in Wall Street. There cannot be because speculation is as old as the hills."

About Jesse Livermore

Jesse Lauriston Livermore (July 26, 1877 – November 28, 1940) was an American stock trader considered one of the greatest traders in history. He made and lost several fortunes during his career, including famous profits during the 1907 and 1929 market crashes. Livermore began trading at age 14 in Boston bucket shops and developed his own methods for reading market movements. He is credited with pioneering many concepts still used today, including tape reading, pivot points, and the importance of market psychology. His most famous trade came in 1929 when he shorted the market before the crash, reportedly making $100 million (equivalent to billions today). However, he also experienced devastating losses throughout his career, reflecting the high-risk nature of speculative trading. The book "Reminiscences of a Stock Operator," a fictionalized biography written by Edwin Lefèvre, has become one of the most influential trading books ever written, inspiring generations of traders and investors.

Investment StyleSpeculation, Trend Following, Technical Analysis, Short Selling

Key PhilosophyTape Reading, Market Timing, Pivot Points, Psychology of Markets, Cut Losses

Notable HoldingsUnion Pacific, Bethlehem Steel, Various Commodities

Books & WritingsReminiscences of a Stock Operator, How to Trade in Stocks