Jesse Livermore made $100 million in 1929. By 1934 he had lost it all
How could an experienced trader lose his entire fortune?
Why didn’t Jesse Livermore follow his own trading rules? – rules that should quickly have closed his losing positions.
In 1917, with great foresight, Jesse Livermore had bought $800,000 worth of annuities. His objective was to ensure his family had an income in case he lost everything in the markets. He knew from experience how strongly the market could pull on every last cent a trader had.
He said:
“The reason I did this was not alone the fear that the stock market might take it away from me, but because I knew that a man will spend anything he can lay his hands on. By doing what I did my wife and child are safe from me.
“More than one man
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Why didn’t Jesse Livermore follow his own trading rules? – rules that should quickly have closed his losing positions.
In 1917, with great foresight, Jesse Livermore had bought $800,000 worth of annuities. His objective was to ensure his family had an income in case he lost everything in the markets. He knew from experience how strongly the market could pull on every last cent a trader had.
He said:
“The reason I did this was not alone the fear that the stock market might take it away from me, but because I knew that a man will spend anything he can lay his hands on. By doing what I did my wife and child are safe from me.
“More than one man
posted by Bramesh at
4:00 PM
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