Reminiscences of a Stock Operator, Annotated Edition, from Victor Niederhoffer
i reviewed the Livermore book for Barron's and i believe if covers the bad quite well.
History Lessons for Investors
Reviewed by Victor Niederhoffer
Imagine that master novelist and chess aficionado Vladimir Nabokov wrote a fictional memoir about Capablanca—the 1920s world champion who never made a mistake on the board—and that Bobby Fisher then published an updated and annotated version, incorporating all of the important developments of modern chess strategy, along with a foreword by Anatoly Karpov.
A similar multilayered feast on investment is now available, with minor differences. Edwin Lefevre's Reminiscences of a Stock Operator is a novel told in the first person by a character inspired by legendary trader Jesse Livermore. This classic is now graced with extensive annotations by investment advisor Jon Markman and a foreword by hedge-fund manager Paul Tudor Jones.
The result is big and beautiful, cutting across two centuries of booms and busts and market and economic history, with a myriad of vintage historical photos and instructive historical charts throughout.
Peter Ringel responds:
Thank you, Vic. For many traders, Reminiscences was their first book about speculation.