failed market wizards?

[Maverick74]

Originally posted by dojibear

Didn't Jesse Livermore blew up his account, and blew up his head at the end too ?


Cheers!!

Yes, he shot himself in the head in the coat check room of the Sherry Netherlander Hotel. He left a suicide note in his pocket for his third wife. He left a $10,000 estate for his wife and children. That's all that was left of his fortune. Six months before his death in a last ditch effot to raise some much needed capital he wrote a book callled "How To Trade in Stock". It was suppose to reveal all of his trading secrets and be a big hit. Unfortunately for him, no one was interested and he took his own life.

 

[sherif24]

I just finished 'Pit Bull' by Marty Schwartz. I noticed it was written in 1998...anyone know what he's up to these days/how he is doing? I'd be curious, since the market has gone through such obvious trials in this short time...

 

[cheeks]

Originally posted by sherif24
I just finished 'Pit Bull' by Marty Schwartz. I noticed it was written in 1998...anyone know what he's up to these days/how he is doing? I'd be curious, since the market has gone through such obvious trials in this short time...

I am curious to know too.

 

[blake]

I was curious myself, quick search revealed not much but this:

http://www.keeneland.com/livesales/press_releases/detail.asp?PID=1080

He's mentioned in there buying a pony for a costly sum. Making it appear that he was doing ok on 9/11.

 

[cheeks]

300,000 dollar pony. Looks like Marty is doing okay!

His book is so funny. The guy is a piece of work!

 

[murray t turtle]

''26.9% in 2000[after fees] .Rich recently stopped trading due to client impatience''[turtletrader public info]


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''Good entries,patient exits''-NITRO quote.

 

[stock777]

Great success often comes (temporarily) from taking great and foolish risk..

The practitioners of that kind of behavior have a habit of pontificating on it's wisdom. Until they go belly up, tap city, the way of all flesh.

Thus, the desire to learn who may have succumbed to thier inevitable fate of being blown out of the game.

Good object lesson.

And the victims rarely if ever report thier own demise.

 

[MainFramer]

The last biography of Jesse Livermore I read was the Smitten one.
According to Smitten Livermore just plain loss interest in life once he successfully shorted the 1929 crash. Apparently felt he couldn't top himself after that. And too, the new SEC rules then imposed may have taken a lot of the fun out of things for him.
Once he fell into his final depression, all kinds of people came out of the woodwork to sue him for anything and everything, and he was just so out of it he let them take his money. Weathly people apparently have to fight as much to keep their money as to get it in the first place.

 

[uptik2000]

Originally posted by cheeks
300,000 dollar pony. Looks like Marty is doing okay!

His book is so funny. The guy is a piece of work!

Marty's horse was running in this past years Traver's Race at Saratoga. I was there looking around for Marty, but the beers blurred my vision. I put $10 to win on his horse...I think it may still be running around Saratoga somewhere trying to find the finishline.

edit--just found the info..his horse "Saint Marden" finished second from last. The rain was incredible that day, which gave him a chance, and would have paid nice. Maybe Marty will have a better horse next year.