For the first time, these two works attributed to the great Jesse Livermore are presented together in one volume with a new foreword by Juliette Rogers. Both contain interesting insights into Livermore's life and times as well as the reasons for his success. They remain classics and must reads for every new aspirant in the world of speculation. The two books in this volume were written in the early 1920s, when Livermore was already famous but still ascending to the peak of his wealth. The nightmare of World War I was fading, and the United States had successfully transitioned from a wartime economy into a peacetime powerhouse. Americans became enamored of cars, telephones, radios, and movies. A newfound fascination with celebrities extended beyond film stars and athletes to the rich and powerful. People wanted to know how Wall Street wizards like Jesse Livermore spun their magic. The first book, Reminiscences of a Stock Operator by Edwin Lefèvre, offers keen insight while at the same time adding to the Livermore enigma. Reminiscences is the first-person narrative of a fictional speculator named Larry Livingston, whose life events happen to match precisely those of Jesse Livermore. As a financial journalist, biographer, and novelist, Edwin Lefèvre gave his readers their much-desired glimpse into the lofty world of Wall Street elites. He wrote eight other books, but none matched the success of Reminiscences, which has remained in print since 1923 and been translated into numerous languages. Even the understated former Federal Reserve Chairman Alan Greenspan once called it "a font of investing wisdom." In true Livermore fashion, the book itself remains something of a mystery. Specifically, over the decades many readers have wondered if the book's author was not Lefèvre, but none other than Jesse Livermore. The two men were long acquainted and may have traded useful information over the years. A 1967 biography claims that Livermore, shortly before his death, acknowledged writing Reminiscences with guidance from Lefèvre, who served as "editor and coach." This revelation came to the biographer secondhand and without confirmation, so the mystery continues. However, attentive readers may note the narrator's especially gleeful tone whenever windfalls are made or old scores are settled, suggesting a connection more personal than professional. In the years following these publications, Livermore continued to burnish his legend. A 1924 run-up in wheat prices squeezed him out of $3 million, but the following year he recovered his losses and added tremendous profit when the wheat market collapsed. Of course, in this era of modest regulation, markets were vulnerable to manipulation and Livermore--by now nicknamed the "Great Bear of Wall Street"--did not eschew such tactics.

A classic collection of titles featuring one of the world's greatest traders: Jesse Livermore Jesse Livermore won and lost tens of millions of dollars playing the stock and commodities markets during the early 1900s, at one point making ten million dollars in one month of trading—an astronomical sum for this time. His ideas and keen analyses of market price movements are as true today as they were when he first implemented them. Now, for the first time ever, The Reminiscences of a Stock Operator Collection brings together three classic titles based on this unique individual and offers profound insights into his motivations, attitudes, and strategies. Reminiscences of a Stock Operator, the fictionalized biography of Jesse Livermore, has endured over seventy years because traders and investors continue to find lessons from Livermore's experiences that they can apply to their own endeavors Reminiscences of a Stock Operator, Illustrated Edition reproduces the original articles by Edwin Lefèvre and drawings by M.L. Blumenthal published in the Saturday Evening Post in the 1920s Reminiscences of a Stock Operator, Annotated Edition bridges the gap between Edwin Lefevre's fictionalized account of Livermore's life and the actual, historical events, places, and people that populate the book. Throughout the book there are notes that detail the actual companies, people, or situations that Livermore encountered Engaging and informative, this collection provides a complete picture of Livermore's life and trading strategies, and offers tremendous value to today's serious investor or trader.

"Although Reminiscences...was first published some seventy years ago, its take on crowd psychology and market timing is a s timely as last summer's frenzy on the foreign exchange markets." —Worth magazine "The most entertaining book written on investing is Reminiscences of a Stock Operator, by Edwin Lefèvre, first published in 1923." —The Seattle Times "After twenty years and many re-reads, Reminiscences is still one of my all-time favorites." —Kenneth L. Fisher, Forbes "A must-read classic for all investors, whether brand-new or experienced." —William O'Neil, founder and Chairman, Investor's Business Daily "Whilst stock market tomes have come and gone, this remains popular and in print eighty years on." —GQ magazine First published in 1923, Reminiscences of a Stock Operator is the most widely read, highly recommended investment book ever. Generations of readers have found that it has more to teach them about markets and people than years of experience. This is a timeless tale that will enrich your life—and your portfolio.

The book can be divided into three parts: (1) 1890-1910: Livermore was able to make easy money by taking advantage of the bid–ask spread on inactive stocks with leverage of 100-to-1 at bucket shops. (2) 1910-1920: Livermore was a stock trader on the New York Stock Exchange, where he went bust over and over again because he used too much leverage. (3) 1920s: Livermore engaged in market manipulation, charging fees of 25% of the market value of the manipulated stock. This was before the creation of the U.S. Securities and Exchange Commission in 1934.

Livermore started trading in securities when he was fourteen years old. He made his first thousand when a mere boy. He has practiced every device known to the active speculator, studied every speculative theory, and dealt in about every active security listed on the New York Stock Exchange. He has piled up gigantic fortunes from his commitments, lost them, digested, started all over again—and piled up new fortunes. He has changed his market position in the twinkling of an eye—sold out thousands of shares of long stock, and gone short of thousands of shares more on a decision which required reading only the one word, “but,” in a lengthy ticker statement. If his later experiences were not enough to catch the public fancy, Livermore would have won it by his greatest feat of all: beating the bucket shops. Beating the cheaters, in fact, was Livermore’s pet plan after things had gone against him and he was forced to start anew on a small-lot basis.