Reminiscences of a Stock Operator

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Reminiscences of a Stock Operator
Paperback, 2006 edition
AuthorEdwin Lefèvre
CountryUnited States
Publication date
1923; 101 years ago (1923)
Pages288 pp.

Reminiscences of a Stock Operator is a 1923 roman à clef by American author Edwin Lefèvre. It is told in the first person by a character inspired by the life of stock trader Jesse Livermore up to that point.[1]

The book remains in print (ISBN 0471770884). In December 2009, Wiley published an annotated edition in hardcover, ISBN 0-470-48159-5, that bridges the gap between Lefèvre's fictionalized account and the actual people and places referred to in the book. It also includes a foreword by hedge fund manager Paul Tudor Jones.[2]


The book can be divided into three parts:[2]


In his 2008 book, The Age of Turbulence, Alan Greenspan called the book "a font of investing wisdom" and noted that quotes from the book such as "bulls and bears make money; pigs get slaughtered" are now adages.[3]

A March 2005 article in Fortune listed it among "The Smartest Books We Know" about business.[4]

In Market Wizards by Jack D. Schwager, many investors, including Richard Dennis, quoted the book as a major source of material on stock trading.


  1. ^ Koppenheffer, Matt (October 26, 2006). "Reminiscences of a Stock Operator". The Motley Fool.
  2. ^ a b epstein, gene (October 30, 2010). "History Lessons for Investors". Barron's.
  3. ^ Greenspan, Alan (September 9, 2008). The Age of Turbulence: Adventures in a New World. Penguin Books. p. 28.
  4. ^ USEEM, JERRY (March 21, 2005). "The Smartest Books We Know". Fortune.

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