Reminiscences of a Stock Operator

Summary

Edwin Lefèvre (1871–1943) was a journalist, writer, and diplomat. First published in 1923, ‘Reminiscences of a Stock Operator’ is an iconic book on investment, a timeless tale that will benefit investors everywhere. Written as first-person fiction, it tells the story of a professional stock trader on Wall Street by a character inspired by Jesse Livermore. The first part covers 1890-1910 when Livermore made easy money by taking advantage of the bid–ask spread on inactive stocks. Part Two covers 1910-1920 when Livermore was a stock trader on the New York Stock Exchange. The third deals with the 1920s when Livermore engaged in market manipulation. An article in the March 2005 edition of Fortune listed it among "The Smartest Books We Know" about business and investing.