Edward Lefevre’s Reminiscences of a Stock Operator is a classic in all senses. Well, in a few. I can base my classic label on the extensive research I’ve done through reading an online Miriam Webster dictionary entry.
First of all, the book serves as a standard of excellence in literary work. It is also enduring, since the story is still entertaining and educational now. It’s historically memorable, being that it was written in the 1920’s, and it’s authoritative, since it’s lessons have stood the test of time.
Reminiscences of a Stock Operator is said to be based loosely on the life of Jesse Livermore. The book follows the life of Livermore as he begins trading, making a fortune and losing it several times throughout the book. Along the way he learns lessons about trading, the players involved, and life in general.
The similarities between what is needed to get by in the 1920’s and now are pretty stunning. I personally like old books written in novel form because they give a better sense on how people talked and thought than historical text books that give facts and figures. While they give u a good idea of the scale of things in the past, novels and journals do a better job of putting you back onto that time frame, in my opinion.
I would recommend Reminiscences of a Stock Operator to anyone interested in historical fiction or those interested in modern markets. The ups and downs of the story kept me interested throughout.
The book is still in print. The ISBN number is 978-0-471-77088-6. There is also a hard copy version available with illustrations, 0470481595.