Please read chapters 8 and 9 of Reminiscences of a Stock Operator

[Cruzan]

For a first hand account of the crash and panic of 1907 -- almost exactly one hundred years ago. Every time I go through it I'm struck by a deep sense of deja vu. It's available free here:

http://www.mypivots.com/articles/booktext.aspx?bookname=Reminiscences%20of%20a%20Stock%20Operator

Actually, I highly recommend the entire book. It's a fascinating, engaging, and engrossing read giving in semi-fictionalized form the trading memoirs of Jesse Livermore, one of the greatest stock traders in history. It's recognized as probably the best book ever written on stock trading and investing if for nothing else its deeply profound advice that at first glance you might pass over as obvious or even trivial. For example:

Obviously the thing to do was to be bullish in a bull market and bearish in a bear market. Sounds silly, doesn't it? But I had to grasp that general principle firmly before I saw that to put it into practice really meant to anticipate probabilities. It took me a long time to learn to trade on those lines.

While obviously never written with the intent to be great literature, I still consider Reminiscences one of the most important and influential books of the twentieth century.

[screembloodymurder]

1. Thanks.

I'll do that.

[Cruzan]

2. kick

:dem: