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What a great read! Probably recommended to me by a 'tuliper - thanks for the tip!
Published in 1923, a highly readable book (the guy can write) from back in the daze before the Protection Team, QE and High Frequency Trading.
Still very pertinent in a number of ways.
His name was Partridge, but they nicknamed him Turkey behind his back, because he was so thick-chested and had a habit of strutting about the various rooms, with the point of his chin on his breast.
Time and again I heard him say, "Well, this is a bull market, you know!" as though he were giving to you a priceless talisman wrapped in a million- dollar accident-insurance policy. And of course I did not get his meaning.
I think it was a long step forward in my trading education when I realized at last that when old Mr. Partridge kept on telling me, "Well, you know this is a bull market!" he really meant to say that the big money was not in the individual fluctuations but in the main movements - that is, not in reading the tape but in sizing up the entire market and its trend.
And right here let me say one thing: After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It was always my sitting. Got that? My sitting tight!
Applicable to more than stocks in one's portfolio.
Readily available at Amazon.
Reminiscences of a Stock Operator
by Edwin Lefevre
($12 paperback)
Published in 1923, a highly readable book (the guy can write) from back in the daze before the Protection Team, QE and High Frequency Trading.
Still very pertinent in a number of ways.
His name was Partridge, but they nicknamed him Turkey behind his back, because he was so thick-chested and had a habit of strutting about the various rooms, with the point of his chin on his breast.
Time and again I heard him say, "Well, this is a bull market, you know!" as though he were giving to you a priceless talisman wrapped in a million- dollar accident-insurance policy. And of course I did not get his meaning.
I think it was a long step forward in my trading education when I realized at last that when old Mr. Partridge kept on telling me, "Well, you know this is a bull market!" he really meant to say that the big money was not in the individual fluctuations but in the main movements - that is, not in reading the tape but in sizing up the entire market and its trend.
And right here let me say one thing: After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It was always my sitting. Got that? My sitting tight!
Applicable to more than stocks in one's portfolio.
Readily available at Amazon.
Reminiscences of a Stock Operator
by Edwin Lefevre
($12 paperback)
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