GREAT BOOK:Reminiscences of a Stock Operator

Quote from Corey:

I assume you are referring to "Extraordinary Popular Delusions and the Madness of Crowds"?

Interesting book. A bit dry due to the old writing style.
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Publisher took all the sex bits out.

I put this here before, but there are a lot of new guys. Around 20 years ago I met this guy who was 90 then, and he used to share stories with me. In the twenties, all the brokers had offices in Palm Beach. Palm Beach is the northern most point where the Gulf Stream warms the air. Anyway, Max was an operator at 90. But one day, in the go go twenties, he heard a guy on the phone. Very spiffy sort. Buy XYZ. Buy all you get. Yeah, I heard blah blah blah, etc, etc.

The next day, Max saw the same guy in rags.

So, I guess the only thing different is the internet, IM, and email. Livermore was right. People are the same.
 
What do you expect a guy will change his habit. He won't. You won't change the way you shave every morning.

Joke:
  • A woman marries a man expecting he will change, but he doesn't.
  • A man marries a woman expecting that she won't change, and she does.
Quote from dsq:

this guy is talking about trading during the 1890s to 1930s!!!ITs uncanny how trading and the emotional,mental and psychological aspects of it are the absolute same today as then.Its a gas.
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I have read this many times...it is a classic and worth reading.

They refer to it all of the time on "The Bitter Truth" radio show all of the time
 
Quote from Corey:

I assume you are referring to "Extraordinary Popular Delusions and the Madness of Crowds"?

Interesting book. A bit dry due to the old writing style. The bits on the financial bubbles were interesting -- but the bits on alchemy and witch hunts dragged a bit. The book makes clear evidence that humans are prone to mania...
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Agreed. I actually enjoyed the old world writing style but I was physically unable to finish reading the book when it went into alchemy and the search for the philosopher's stone (its purpose I still do not know)
 
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