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Jesse Livermore is revered as the most accomplished trader in history. This book reveals the strategies that enabled him to amass his substantial fortune.
Initiating his trading career at the tender age of fourteen, he secured his first substantial wealth during the market panic of 1907 by selling markets short. Over the subsequent years, he accumulated an impressive fortune by strategically trading in and out of the market, navigating through the turbulence of the First World War and the volatile 1920s.
Like every trader, Livermore faced losses alongside his gains. However, his uncanny knack for timing his trades ensured that he invariably emerged triumphant. His monumental success facilitated a lavish lifestyle.
Livermore led a life of opulence, owning a collection of mansions worldwide and marrying a showgirl from the renowned Ziegfield follies. He epitomized the epitome of a rock-star trader, surpassing the success of today’s hedge fund billionaires. His strategic foresight enabled him to short the market ahead of the 1929 crash, subsequently further enriching himself.
But what underpinned his extraordinary success?
In the twilight of his life in 1940, prior to his suicide, Livermore penned “How To Trade In Stocks”. The book encapsulates the insights gleaned from a lifetime of financial triumphs and setbacks. In a concise, straight-forward style, he delineates the principles of successful investing – principles that any market participant can benefit from.
This book melds captivating autobiographical and historical details with a systematic guide on:
– Deciphering market trends
– Evaluating dominant sectors
– Timing your trades adeptly
– Effective money management
– Maintaining emotional balance
It is the quintessential investment book that everyone should delve into.