Interview with Jesse Livermore

Conducted by Edwin Lefevre, dated circa 1922, this “interview” reveals great insights into the mind of the famous trader. As we will see, the wisdom imparted here could change our entire perspective on the speculative game we love and enjoy. It might even change our lives. I took the liberty of editing it due to its length.
Lefevre: Hello Mr Livermore. Thank you for taking the time to conduct this series of interviews with me. It is my understanding that you do not grant many interviews, so I am honored.
Livermore: You are very welcome. I appreciate the respect but you do not have to address me as Mr. Jesse, or my nickname, the boy plunger, will suffice.
Lefevre: And where did you get the name boy plunger?
Livermore: It was during the early days when I was trading small lots in the bucket shops, where the man who traded in twenty shares at a clip was suspected of being J.P. Morgan traveling incognito. I didn’t have a following. I kept my business to myself. As it was, it did not take long for the bucket shops to get sore on me for beating them. I’d walk in and plank down my margin, but they’d look at it without making a move to grab it. They’d say nothing doing. That is when they started calling me the boy plunger. I had to move from shop to shop, even to the point of changing my name. I couldn’t put trades on without getting cheated on the quotes.

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