"As the great crash approached, Livermore saw it coming. He went short big time. On Black Monday, October 29th, he went home to find his wife had pulled her jewelry together for sale and moved into the chauffeurâs house. From the news on the radio she had assumed he had lost everything and would need to sell their possessions to build a new stake and start over. Livermore laughed. He had just pulled off the biggest coup of his life. He made over $100 million shorting the market. In todayâs terms, that is over a billion dollars."
Livermore said that speculation âis nothing more than anticipating coming movements.â