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Loading... Reminiscences of a Stock Operator (1923)by Edwin LefèvreNone. 경제,비즈니스,주식  leese | Nov 23, 2009 |  Pros: classical and excellent considering the time it was written; still largely relevant today; interesting form Cons: too simple for today's complex and even more sinister investment landscape; some inferred advice could be misunderstood; shouldn't be taken as a guide book for today's investment (  ) sphinx | Jul 17, 2008 | Dated Yet Insightful This book's contribution to the literature of the financial markets is incontrovertible. For an investing public starved of trading wisdom in a pre-Markowitz era when stock traders relied more or less on rules of thumb, "Reminiscences" stood out as a true gem. It should be read both as a source of profound insight into the workings of financial markets past and present, and as a critique of speculative activity in the years prior to the bursting of the stock market bubble in 1929. One of the most important lessons mentioned in the book is that a trader does not have to be invested in the market all the time. It sounds hackneyed today, but this tenet is actually difficult to follow in practice, given the propensity of traders and investors to ride out losing positions. It is important to remember that, having been written during a massive bull run and prior to the systemic failure of the stock market in 1929, during which the market's 'boundless hope and optimism', as described in Galbraith's "The Great Crash 1929", run roughshod over sentiments that the markets were overheating, "Reminiscences" should be read with an eye towards portfolio preservation, not injudicious speculation. (Posted in Amazon.com, May 3, 2004) (  ) melvinsico | Oct 30, 2006 |
 This book has been considered one of the investment classics. While written some seventy years ago, this collection of stories continue to speak to the contemporary reader. Hence, its reputation is deserved.
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