Jesse Livermore's unknown psychology
- Thread starter harrytrader
- Start date
His best friend was a gambler... he made a lot, lost a lot, made it back, lost it again... sounds more like a gambler than a so called market speculator. Gambling is such a horrible disease.
Make no mistake about it though, blowouts or not, the man was the essence of what speculation is...No, he definitely was not a gambler. Most of his trades were well thought out speculations. It was only when he broke his own rules or listened to someone else's advice that he lost money. He loved the game and of course winning but he was smart and knew the markets better than anyone at the time.
True, money may not buy happiness or health according to some, but it can most definitely buy youth. Notice how millionaires tend to have younger wives.
No.. I don't know what he was worth when he committed suicide but his children did live off his wealth.
It is said here
http://jesselivermore.com/pics/pics_pg3.html
that
'Jesse Livermore "The Boy Plunger" of Wall Street and his wife of twenty months set sail to Europe on the S.S. Rex after his 1934 bankruptcy. Before boarding Livermore said, "I hope to relieve my mind of some of my troubles."'
whereas he made a fortune during the crash:
'Jesse Livermore, the legendary "Boy Plunger" and "Great Bear of Wall Street" in his office in 1929 just after the "Crash"--when he went short the market and made over 100 million dollars. His powers were at their highest. His life slid downhill from here--ten years later he would kill himself. '
http://jesselivermore.com/pics/pics_pg3.html
that
'Jesse Livermore "The Boy Plunger" of Wall Street and his wife of twenty months set sail to Europe on the S.S. Rex after his 1934 bankruptcy. Before boarding Livermore said, "I hope to relieve my mind of some of my troubles."'
whereas he made a fortune during the crash:
'Jesse Livermore, the legendary "Boy Plunger" and "Great Bear of Wall Street" in his office in 1929 just after the "Crash"--when he went short the market and made over 100 million dollars. His powers were at their highest. His life slid downhill from here--ten years later he would kill himself. '
Announcement by Associated Press on March 9, 1934 this is really sad to finish like that 
http://www.unrulydog.com/JLPlacid.html
JESSE LIVERMORE IN BANKRUPTCY
Jesse L. Livermore, once known in Wall Street as "The Boy Plunger" and veteran of the trading pits, Monday declared himself bankrupt, according to an Associated Press dispatch.
Livermore was a summer resident of this resort for a number of years, owning a large home on Signal hill overlooking Lake Placid.
His petition filed in Federal court listed Liabilities of $2,259,212, and assets of only $184,900, including at its face value $150,000 insurance on his life.
Seats on exchanges, jewelry and personal property are included among the remaining assets of the man who had piled up tremendous fortunes, only to lose them, in his widespread operations in stocks and grains.
Unpaid Federal income taxes for 1930 and 1931, totaling $406,528 plus interest, and penalties, are included in the liabilities. There is also an overdue note for $142,520 to the Harriman National Bank & Trust Company, which is in the hands of a conservator.
Notes for $50,000 to E. R. Bradley, Lexington, Ky.; $75,000 to E. F. Hutton, New York broker, and a pending breach of promise suit for $200,000 brought by Charles Levine, airplane flight promoter, are among other scheduled liabilities.
http://www.unrulydog.com/JLPlacid.html
JESSE LIVERMORE IN BANKRUPTCY
Jesse L. Livermore, once known in Wall Street as "The Boy Plunger" and veteran of the trading pits, Monday declared himself bankrupt, according to an Associated Press dispatch.
Livermore was a summer resident of this resort for a number of years, owning a large home on Signal hill overlooking Lake Placid.
His petition filed in Federal court listed Liabilities of $2,259,212, and assets of only $184,900, including at its face value $150,000 insurance on his life.
Seats on exchanges, jewelry and personal property are included among the remaining assets of the man who had piled up tremendous fortunes, only to lose them, in his widespread operations in stocks and grains.
Unpaid Federal income taxes for 1930 and 1931, totaling $406,528 plus interest, and penalties, are included in the liabilities. There is also an overdue note for $142,520 to the Harriman National Bank & Trust Company, which is in the hands of a conservator.
Notes for $50,000 to E. R. Bradley, Lexington, Ky.; $75,000 to E. F. Hutton, New York broker, and a pending breach of promise suit for $200,000 brought by Charles Levine, airplane flight promoter, are among other scheduled liabilities.