This one, in particular, is straightforward to listen to. It is not technical in any way. It's just a story. I did deadlifts earlier which usually gives me temporary attention deficit disorder LOL, but I can follow this for 50min no problem.
"Her previous five husbands had all committed suicide" The manner in which Patrick baked that into the story, priceless! This channel is the best channel in the whole world.
I love that you don't de-humanize the person you present. Even with Charles Ponzi, your documentary presented him as a human first. The same kind of emphaty is felt in this documentary as well.
He treats Livermore and Ponzi with dignity, but Patrick is a lot less sympathetic to some of our contemporaries. I wouldn’t say he dehumanizes them, but he doesn’t pull any punches.
@@MarcosElMalo2Patrick showed Ponzi and Livermore as cautionary tales. Legendary they were, but they were also human, and flawed. The contemporary folks were still here to defend themselves, the dead not so.
The thing is, he doesn't epathise. Not one bit. But he presents things to an insane degree of neutrality, so that we can develop empathy and our own opinion, instead of being manipulated into anger or whatever.
Might be fluffed up by Hollywood, and more "based on a true story" if so, so it's better it's shown as Patrick did it. He's given a lot more respect than Hollywood would give ("The Social Network" was based on an unflattering book that painted Mark Zuckerberg a villain, with those who profited from it having gotten into legal issues of their own)
Fan dancing and bubble dancing were devised to use a loophole in the laws about nudity on the stage, namely they couldn't move in the nude. Source: H. Allen Smith writing about his interview with Sally Rand, some time in the 1940s.
What's most striking to me is that this man accrued enough money to never work again, atleast 3 times in his life. But it was never enough, he was never able to step away and simply learn to live well and happily.
That's gambling addiction. Judging by his other choices he was also not very emotionally intelligent and generally uneducated. Shortly, he was incapable of managing both his life and his fortune.
This was superb - Jesse Livermore had a nephew by the name of John (Jack) Grant who I believe grew up in Florida who was a very dear friend of mine . To look at Jack and at Jesse the family resemblance is striking . To make a long story short Jack was a retired Lt. Col. from the USAF and like Jesse a genius with a degree in electrical engineering. He was also a commodity trader and market analyst both of us working for Siegel Trading Co. in Oklahoma City in the mid 70's . Jack taught me how to trade options always emphasizing the dangers of getting the big head when you had a nice win. Jack was involved in a nasty divorce and had suffered a substantial trading loss in a soybean play - he didn't show up for work one morning - I went to his apartment . He was deceased by his own hand , this was in June of 1976. Thanks in large measure to Jack's tutelage I am very comfortably retired. At the time of Jack's passing I knew nothing of the fates of Jesse Livermore's sons.
Anyone who trades knows that large swings in PNL are extremely damaging to the human psyche. The losses weigh extremely heavy and are felt much more than the wins. And yet, the big rewards don't come without the accompanying risk; but most people don't consider risk management first (to protect their mental health and trading confidence). Livermore lived on both sides to the extreme, and I'm sure the stress piled up and cost him, despite previous proof of bouncing back. The market shifted, as it always does, his strategy didn't work anymore, and now there was no coming back. I was happy to hear he established that Trust to serve as protection from poverty, but it looks like he may have undone it to try to bounce back and failed. He never learned to just walk away, because trading is all he ever knew.
There's a bit more to that still, stock trading is very much like gambling, and I'm sure that people knee deep in either share the same character traits and have largely the same things motivating them. Trading and gambling doesn't make a person truly happy or fulfilled, perhaps the opposite is true, miserable and hollow. If you have borrowed 10.000 today and a year later you've made 10 million in risky, high payoff, high leverage speculative trades, where do you go from there? Slow down? In the story, Livermore has succumbed to sunk cost fallacy multiple times, and the outcome was a coin toss. "Broken every one of his own rules" is not something that inspires confidence that a man can keep a multi-million dollar fortune. Added to that, not only was he himself deeply psychologically troubled, so was his wife (lavish parties, shot her own son), so was his son (shot himself), so was his grandson (shot himself)... I mean... abundance of money made in a "casino" probably trivialized their lives, that were bereft of meaning.
Yeah..the only way to make huge % gains is to be aggressive. I knew a trader that took $50,000 to $5 Million in the 2003-2007 bull market. He did it by going all in the market leading stocks. RISKY. Yes. But there is no other way to make 150%+ per annum. It ended bad when CROX gapped down. He lost $3 Million of that $5 million. Still walked away with $2 million. I think he retired. Smart. Only trade with money you can lose 50% of....play the aggressive game. See where it goes.
A story well told. The one hour video held my attention the whole time. That is an impressive achievement. Congratulations. Thanks for the effort, Pete
I was on my walk and listened. So perfect entertainment. Well delivered, thanks Patrick. Previously I have come across Jessie Livermore's story but not in this detail. Will check out his book online. What an ironically interesting life he had lived. A self made man with some great qualities from poverty to wealth is truly admirable.
Been familiar with Jesse Livermore since 2011 when I started trading. Every few years I look on UA-cam for fresh videos on him but they rarely provide any new insights. Patrick did a great job with this one!
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Dam dude with this many patrons you do NOT need to plug the other thing during the videos. I do appreciate that you allow fast forwarding though. thanks brotha!
I didn't understand all the comments about this being a long video until I checked the time. I was captivated the entire vid, broke down all the recycling while making a roast for Sunday evening meal - completely drawn into the story. Thanks for all the work in making this!
Patrick, I was absolutely captivated by your storytelling and very much appreciated the time and effort you put into this fascinating subject. For me, the take-home lesson is that we can learn just as much from failures as we can from successes when we study the lives of others, especially famous or historical figures. Please keep on educating us and sharing timeless wisdom
There are not too many videos out there that explain in detail the life of Mr. Livermore. I categorize him as one the Great financial philosophers the likes of Buffet, Munger, Marks, Templeton just to name a few come to mind. Time less wisdom. And thank you also for explaining how a bucket shop functioned I've heard of them in the past and also from reading Reminiscences of a stock operator but couldn't quite understand how they operated. You did a Great thank you.
My life was much like his. I was in the real estate business and did very well. I always wanted to take my business to the next level for the really big bucks... I was already working a hundred hours a week. Went through several booms and busts. Could no longer handle the stress and retired young... Went back to work at 67!!!!!! Something different....no stress!!!! Still at it at 72!!! Funny money!!!
I just finished the Audiobook version of "Reminisces of a stock operator" highly recommend it for anyone who wants to learn more about Jesse Livermore!
".... You might not be up for another long video...". You kidding, right? Diving right in! Well researched, and presented, videos are a rarity. They're addictive when you come across them. Yours do not disappoint in that case👍🏻👍🏻 Keep 'm coming.
Wow! I have to admit I had no idea that is how bucket shops started - pure betting parlors - versus the pumping and dumping of penny stocks. Great channel, Patrick.
As a Trader I have decided to separate my private life from the market swings😢market swings can send you to an early grave. When I saw the emotional toll that volatility caused on my life I decided to put aside 50% of the profits won from every trade into stable investments like Real Estate. It worked like magic,, once you know the market can't clean you out in one swing you start enjoying life, you can comfortably start a family, have long term friends and pursue other ventures. By the way Patrick I have really enjoyed this video😍you are a great story teller, this is the quickest 1hr I have ever had, excellent narration. This is your niche.
In finance circles I've always heard the advice "Never invest more than what you're willing to lose," but this video shows that I guess the pros don't always follow that rule very well!
Jesus, what a story!! hell of a job putting this together! why Hollywood hasn´t made a film about this guy? Thanks Patrick for putting this together. Love your humor :)
Very much appreciate your skillful storytelling and the commitment and research you put in to making these videos! Thank you also for including the sources you relied on! Side note about the length: this made me think back to school and how I struggled to care or get interested during most lessons. It’s really shocking how that’s completely the opposite to this hour I spent. I was curiously fascinated and enjoying myself. I only checked how much longer I had left because I was sad it was going to end, and got excited when I still have half the video left! Glad you choose to adjust lengths based on the topics to fit your topics! 🙏
This story has lessons deeper than trading. It’s about experience, trial and error, learning from mistakes and blaming yourself not others for your mistakes.
@@DDDd-yz6kz It is a good rule, yet seemingly so easy when you are already willing to do something risky. If you then watch the movement too much and see upward movement, you can delude yourself into putting in way more. Be careful, everyone!
What a life! 100 brokers! ......and all before digital calculators and online Banking.....just how did Jesse keep account of his wealth and cash? Great story, very well told.
Mr. Patrick, this is quite possibly one of the best biographies I've ever listened to.Better than anything on A&E or the now useless history channel.I no longer watch cable tv (fools tube). I've read bios on Livermore-but none as good as this presentation. you totally captured the essence of the man-and your narrative of the triumphs & tragedies was gripping--like a roller coaster. I own several stocks and I learned much from this video that I didn't learn from reading the bios. And no- it was not too long- man I wanted you to keep the content going. like a part 2. Obviously you have a talent for producing quality historical bios and documentaries. Your research & scholarship is hard hitting. These documentaries are (in my opine) the best part of your channel. Also when you direct me to another past docus you've done I always click. Can you do more biographies like this?
Excellent story and excellent storytelling. Thank you, I really enjoyed watching all of it and I really hope someone steps up and makes this into a movie
This is the best finance video I have ever seen. If it teaches anything then it is that 1) Leverage is not worth the inevitable massive losses that will follow one day 2) Luck plays a big part in speculation, to the point where one wonders if Livermore his life was just a case of survivorship bias
Thank you so much for this content, sir. I have always found the subject to be a very interesting person, and really enjoyed the way you brought his story to life.
I found Reminiscences of a Stock Operator at a used book store one day, I had never heard of Jesse Livermore or this book but the title caught my eye. It was a heavy annotated version that was a little too much for me at the time so I left it there. Several months later I returned to that book store and it was till sitting there, so before I lost the opportunity I decided to buy it at last. It absolutely became one of my favorite books. I read it, then took to listening to the audio book on walks. Probably three times or so ive gone through it and always enjoy this book. Great video man as always
Wow this was a great episode. I am going to have to reread my copy of "Reminisces of a Stock Operator" again this year just to relive the joy I had after discovering this great book back in the stacks of the main library of my college in the mid 1980s.
Thank-you, Patrick, you are a wonderful raconteur. The life of Jesse Livermore has held a long standing fascination for me. I have made two fortunes and lost them both - now working on the third! It is exceptionally difficult to learn from one's mistakes and this was Livermore's greatest asset coupled with his obvious intuition on market action. The stories about Northern Pacific and cotton are especially salutary - in the end nobody can readily predict the future. Livermore's major early failing was risk management - which the bucket shops forced him into by closing out losing positions. Apart from the interesting tale there is much for traders & speculators to take from study of Livermore's life and its ups and downs. You have presented a well-balanced and insightful look into this brilliant yet deeply flawed man, enjoyed every minute...
I had literally just put down that book having finished the first chapter when your YT clip turned up. I enjoyed your overview very much. Thank you. Regards Paddy
seems to be the perfect length. you have covered the man's lif and experiences with a degree of detail many documentary makers would do well to emulate. The story as you have told it was enthralling, even riveting at times. No draggy points of going into the weeds too muc, just the right amount for me. well done and thank you.
These are quickly turning into some of the best historical essays on the names that are often associated with the markets but rarely known in any great depth. Thank you.
Thanks for that Patrick. I have little interest in the markets but your channel has made them fascinating recently. That was a brilliant episode about Livermore. Keep it coming !
Well, I didn't think I would, but I did listen to the entire episode. The name Livermore was part of my childhood, possibly from a remote ancestor of the family. Reg Livermore, from memory, from Lockheed in California resonates with this story , mostly because of the wealth, his wealth, not mine! . A good narrative, thank you, Greetings from Australia.
Thank you for this very well researched and very witty examination of Jessie Livermore. As a kid I used to watch "Wall Street Week" and I read "Reminiscences" ...which influenced me greatly. I later became a full floor trading member of the American Stock Exchange.... walking down the same street in the opening of "WSW", and even market making in the same AMEX isle shown ...and became a long time New York Cotton Exchange floor member....as a prop trader and market maker in options on cotton futures. After blowing up and on the comeback trail, my clerk told me, "Mark, do you want to appear smart and clever... or do you want to make money?" I gave up trying to outsmart everything... and I never blew up again. Your story here made me reflect, once again, about how Livermore blew himself up several times after he had made enough to live as a very wealthy person the rest of his life. Thanks again for this video!
I don’t know if I should be scared, amazed, inspired, discouraged, grateful, or envious. I don’t think I could stand a life with that amplitude of highs and lows.
I really enjoy your long form content, especially when you take an approach that adds to the general conversation as you did with Livermore. I'm always interested in biopics if there are others you'd like to do. Thanks for adding to the calm, rational voices on UA-cam, Patrick.
Very much appreciate your skillful storytelling and the commitment and research you put in to making these videos! Thank you also for including the sources you relied on! Side note about the length: this made me think back to school and how I struggled to care or get interested during most lessons. It’s really shocking how that’s completely the opposite to this hour I spent. I was curiously fascinated and enjoying myself. I only checked how much longer I had left because I was sad it was going to end, and got excited when I still have half the video left! Glad you choose to adjust lengths based on the topics to fit your topics!
The psychology of trading is fascinating. When you see that one of the most well known winners still managed to lose everything several times, it makes you realise just how difficult it is. That won't stop people trying it. I did enjoy reading "Reminisces of a stock operator", made me think how little things have changed over the years.
Culture change, technology change, finance change. But human nature is the same!. That’s why the fluctuation paterns and charts are the same. Booms and busts
Thanks Patrick, I really enjoyed that. I've read the book a few times. I learned a lot of extra information about Jesse listening to this video. No problem with the long video, it felt like 20min.
Wow what a great video, you are quite talented as a biographer, the Charles Ponzi video you made a couple of years ago is another great piece. Thank you so much!
Thanks Patrick for this breathraking story, probably your best biography piece to date. I dunno about your trading skills but your story telling skills are undeniable.
i can not thank you enough because of how detailed this content is about this legend. I respect Jesse Levermore for he is an inspiration. Despite of all his pitfalls, he opened up many people' eyes about how the market works
As a person who has always snubbed "capitalism", I am surprised how strongly my world view changed after finding Mr. Boyle´s channel. Wish I had found this sooner in life, tbh. The clearly organized thoughts and facts have strongly influenced me. I think I am getting to be a more rational, pragmatic person through this. Kind of therapeutic :-D Thanks, Mr Boyle, for all your work. Your learnedness, integrity and dry humour are much appreciated. Very helpful and most interesting channel! Greetings from Germany
It’s always fascinating to me how these sorts of stories contain lessons that are applicable to today while also being set in a landscape so different from today that it’s fundamentally impossible to take the same path to victory. I feel like a large part of what made men like this so successful was the vibrant energy of those earlier days. So full of hope and promise. Not sure that’s still around.
Thanks Morning Brew for my daily news briefing - sign up for free here: morningbrewdaily.com/patrickboyle
I signed up. Don’t know why I did not realize it was free until now.
Thank you very Patrick. I watched till the end. I hope to learn some life lessons.
More lengthy videos please. I prefer an inadept video over those where I have to do further research.
Evergrande into liquidation as of today. Shit storm brewing.
Great one.
Hoping for more of this kind 🎉
Length of a video is never an issue if it's done with high quality content! Absolutely a pleasure!
I know nothing about economics but i really enjoy his uploads plus cause i am Greek i am practicing my English.Good job.
I think he has the type of audience which doesn't mind investing more time in a video as long as producton value remains high.
This one, in particular, is straightforward to listen to. It is not technical in any way. It's just a story. I did deadlifts earlier which usually gives me temporary attention deficit disorder LOL, but I can follow this for 50min no problem.
The length was an issue for me this time to be honest. Way too short.
I would agree. I listen while I'm working, so several times longer would be preferable.
"Her previous five husbands had all committed suicide"
The manner in which Patrick baked that into the story, priceless! This channel is the best channel in the whole world.
And yet no recap on her perfect 6:6 score. 😏
@@MichaelWerneburg that's a missed opportunity to recap. would've be interested to know what happened w first 5, just a quick bio would've been good
@@natetran9987 Five chalk outlines or gritty black and white crime scene pics.
Are they sure? All six? Many mass murderers that got away with in those days
@@MichaelWerneburg who knows, maybe she went on to do more!
I love that you don't de-humanize the person you present. Even with Charles Ponzi, your documentary presented him as a human first. The same kind of emphaty is felt in this documentary as well.
You worded it weird but I agree.
He treats Livermore and Ponzi with dignity, but Patrick is a lot less sympathetic to some of our contemporaries. I wouldn’t say he dehumanizes them, but he doesn’t pull any punches.
@@MarcosElMalo2Patrick showed Ponzi and Livermore as cautionary tales. Legendary they were, but they were also human, and flawed. The contemporary folks were still here to defend themselves, the dead not so.
@@theodorehsu5023 Word.
The thing is, he doesn't epathise. Not one bit. But he presents things to an insane degree of neutrality, so that we can develop empathy and our own opinion, instead of being manipulated into anger or whatever.
Wow, what a rollercoaster! I’m shocked that Jesse Livermore’s life hasn’t been made into a movie to be honest. It would make a great biopic.
Might be fluffed up by Hollywood, and more "based on a true story" if so, so it's better it's shown as Patrick did it. He's given a lot more respect than Hollywood would give ("The Social Network" was based on an unflattering book that painted Mark Zuckerberg a villain, with those who profited from it having gotten into legal issues of their own)
Yes. Certainly. And same should be with George Soros.
Yeah with Leo dicaprio, if he was young lol
Hollyweird would make Jesse a black trans.
"Girls with fans on staircases was a big thing back then, because there was no internet." 😂😂
Fan dancing and bubble dancing were devised to use a loophole in the laws about nudity on the stage, namely they couldn't move in the nude. Source: H. Allen Smith writing about his interview with Sally Rand, some time in the 1940s.
Nowadays we have girls on the internet on "LOnely_Fans" 😂
If you like Girls on Staircases Carrying Fans, you'll love Comedian in Cars Getting Coffee.
I like the cut after that sentence, he had more to say on the topic 🤣
Now we have only fans and no girls or staircases
What's most striking to me is that this man accrued enough money to never work again, atleast 3 times in his life. But it was never enough, he was never able to step away and simply learn to live well and happily.
a good highlight is also how none of his strategies worked after the tricks were outlawed. Made a fortune on swindling others huh
That's gambling addiction. Judging by his other choices he was also not very emotionally intelligent and generally uneducated. Shortly, he was incapable of managing both his life and his fortune.
Sociopathy is rewarded in our economic system.
That's because he's not specifically interested in money. He, like most magnates, enjoys the _process_ more than the _procedes._
@@brianbuch1 Yeah you can tell by the complete lack of sociopaths in prison. No sociopaths there at all.
Best rap news and analysis channel out there!
Best
This was superb - Jesse Livermore had a nephew by the name of John (Jack) Grant who I believe grew up in Florida who was a very dear friend of mine . To look at Jack and at Jesse the family resemblance is striking . To make a long story short Jack was a retired Lt. Col. from the USAF and like Jesse a genius with a degree in electrical engineering. He was also a commodity trader and market analyst both of us working for Siegel Trading Co. in Oklahoma City in the mid 70's . Jack taught me how to trade options always emphasizing the dangers of getting the big head when you had a nice win. Jack was involved in a nasty divorce and had suffered a substantial trading loss in a soybean play - he didn't show up for work one morning - I went to his apartment . He was deceased by his own hand , this was in June of 1976. Thanks in large measure to Jack's tutelage I am very comfortably retired. At the time of Jack's passing I knew nothing of the fates of Jesse Livermore's sons.
You must be very rich haha, if you knew his nephew as you say, plus that's also a lot of compounding time :) amazing story nonetheless thanks, James
@@jamesbyrne9312😊😢
Thank you for sharing. Sorry you friend did that.
This felt like a storytime with grandpa. I loved it, Pat. Never heard of Jesse Livermore before this
Livermore is an absolute LEGEND on Wall Street
Yup a true legend
This is how you spend an hour on a Sunday morning
Anyone who trades knows that large swings in PNL are extremely damaging to the human psyche. The losses weigh extremely heavy and are felt much more than the wins. And yet, the big rewards don't come without the accompanying risk; but most people don't consider risk management first (to protect their mental health and trading confidence). Livermore lived on both sides to the extreme, and I'm sure the stress piled up and cost him, despite previous proof of bouncing back. The market shifted, as it always does, his strategy didn't work anymore, and now there was no coming back. I was happy to hear he established that Trust to serve as protection from poverty, but it looks like he may have undone it to try to bounce back and failed. He never learned to just walk away, because trading is all he ever knew.
There's a bit more to that still, stock trading is very much like gambling, and I'm sure that people knee deep in either share the same character traits and have largely the same things motivating them. Trading and gambling doesn't make a person truly happy or fulfilled, perhaps the opposite is true, miserable and hollow. If you have borrowed 10.000 today and a year later you've made 10 million in risky, high payoff, high leverage speculative trades, where do you go from there? Slow down? In the story, Livermore has succumbed to sunk cost fallacy multiple times, and the outcome was a coin toss. "Broken every one of his own rules" is not something that inspires confidence that a man can keep a multi-million dollar fortune. Added to that, not only was he himself deeply psychologically troubled, so was his wife (lavish parties, shot her own son), so was his son (shot himself), so was his grandson (shot himself)... I mean... abundance of money made in a "casino" probably trivialized their lives, that were bereft of meaning.
exactly. Im puzzled how this great trader seemed to know nothing of the basics of risk management.
@dingdingdingdiiiiing and you forgot to add that great granddaughter is a famous pornstar en.m.wikipedia.org/wiki/Brandi_Love
@@dingdingdingdiiiiingyou sound broken
Yeah..the only way to make huge % gains is to be aggressive. I knew a trader that took $50,000 to $5 Million in the 2003-2007 bull market. He did it by going all in the market leading stocks. RISKY. Yes. But there is no other way to make 150%+ per annum.
It ended bad when CROX gapped down. He lost $3 Million of that $5 million. Still walked away with $2 million. I think he retired. Smart.
Only trade with money you can lose 50% of....play the aggressive game. See where it goes.
A story well told. The one hour video held my attention the whole time. That is an impressive achievement. Congratulations.
Thanks for the effort,
Pete
I had to take breaks but I'm the tic toc generation
It only felt like an hour. It’s actually 53 minutes and 38 seconds.
I was on my walk and listened. So perfect entertainment. Well delivered, thanks Patrick. Previously I have come across Jessie Livermore's story but not in this detail. Will check out his book online. What an ironically interesting life he had lived. A self made man with some great qualities from poverty to wealth is truly admirable.
Been familiar with Jesse Livermore since 2011 when I started trading. Every few years I look on UA-cam for fresh videos on him but they rarely provide any new insights.
Patrick did a great job with this one!
Same here, with all the market buzz lately I’m surprised nobody is producing a movie yet
This long form historical videos are some of my favorite ones.
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Dam dude with this many patrons you do NOT need to plug the other thing during the videos. I do appreciate that you allow fast forwarding though. thanks brotha!
👍🏾 yes Thank you guys... and @morningbrew
I didn't understand all the comments about this being a long video until I checked the time. I was captivated the entire vid, broke down all the recycling while making a roast for Sunday evening meal - completely drawn into the story. Thanks for all the work in making this!
I truly appreciate you, your work, and your sense of humor. Thank you.
Thanks!
Patrick, I was absolutely captivated by your storytelling and very much appreciated the time and effort you put into this fascinating subject. For me, the take-home lesson is that we can learn just as much from failures as we can from successes when we study the lives of others, especially famous or historical figures. Please keep on educating us and sharing timeless wisdom
There are not too many videos out there that explain in detail the life of Mr. Livermore. I categorize him as one the Great financial philosophers the likes of Buffet, Munger, Marks, Templeton just to name a few come to mind. Time less wisdom. And thank you also for explaining how a bucket shop functioned I've heard of them in the past and also from reading Reminiscences of a stock operator but couldn't quite understand how they operated. You did a Great thank you.
My life was much like his. I was in the real estate business and did very well. I always wanted to take my business to the next level for the really big bucks... I was already working a hundred hours a week. Went through several booms and busts. Could no longer handle the stress and retired young...
Went back to work at 67!!!!!!
Something different....no stress!!!! Still at it at 72!!! Funny money!!!
I just finished the Audiobook version of "Reminisces of a stock operator" highly recommend it for anyone who wants to learn more about Jesse Livermore!
Loved this book so much! Such a crazy story.
Except it's a fictionalized account of his life and doesn't actually depict him honestly.
I stopped reading fiction unfortunately
Did you watch the video?
Try « how i made 2 million dollars in the stockmarket» by Nicolas Darvas. Buy both the paperback and sound book
".... You might not be up for another long video...".
You kidding, right?
Diving right in!
Well researched, and presented, videos are a rarity.
They're addictive when you come across them. Yours do not disappoint in that case👍🏻👍🏻
Keep 'm coming.
I watched the video about JP Morgan right after it came out 😂
I've been enjoying your lectures quite a while now Patrick. Thank you for this episode; one of your finest.
These long videos are always worth to watch. You've become one of my UA-cam staple, mate.
Wow! I have to admit I had no idea that is how bucket shops started - pure betting parlors - versus the pumping and dumping of penny stocks. Great channel, Patrick.
As a Trader I have decided to separate my private life from the market swings😢market swings can send you to an early grave. When I saw the emotional toll that volatility caused on my life I decided to put aside 50% of the profits won from every trade into stable investments like Real Estate. It worked like magic,, once you know the market can't clean you out in one swing you start enjoying life, you can comfortably start a family, have long term friends and pursue other ventures.
By the way Patrick I have really enjoyed this video😍you are a great story teller, this is the quickest 1hr I have ever had, excellent narration. This is your niche.
how much did you make from trading?
In finance circles I've always heard the advice "Never invest more than what you're willing to lose," but this video shows that I guess the pros don't always follow that rule very well!
Jesus, what a story!! hell of a job putting this together! why Hollywood hasn´t made a film about this guy? Thanks Patrick for putting this together. Love your humor :)
Very much appreciate your skillful storytelling and the commitment and research you put in to making these videos! Thank you also for including the sources you relied on!
Side note about the length: this made me think back to school and how I struggled to care or get interested during most lessons. It’s really shocking how that’s completely the opposite to this hour I spent. I was curiously fascinated and enjoying myself. I only checked how much longer I had left because I was sad it was going to end, and got excited when I still have half the video left! Glad you choose to adjust lengths based on the topics to fit your topics! 🙏
You are truly a fantastic story teller. Thank you Patrick.
This story has lessons deeper than trading. It’s about experience, trial and error, learning from mistakes and blaming yourself not others for your mistakes.
And never invest more than what you could afford to lose.
@@DDDd-yz6kz It is a good rule, yet seemingly so easy when you are already willing to do something risky. If you then watch the movement too much and see upward movement, you can delude yourself into putting in way more.
Be careful, everyone!
What a life! 100 brokers! ......and all before digital calculators and online Banking.....just how did Jesse keep account of his wealth and cash?
Great story, very well told.
Mr. Patrick, this is quite possibly one of the best biographies I've ever listened to.Better than anything on A&E or the now useless history channel.I no longer watch cable tv (fools tube). I've read bios on Livermore-but none as good as this presentation. you totally captured the essence of the man-and your narrative of the triumphs & tragedies was gripping--like a roller coaster. I own several stocks and I learned much from this video that I didn't learn from reading the bios. And no- it was not too long- man I wanted you to keep the content going. like a part 2. Obviously you have a talent for producing quality historical bios and documentaries. Your research & scholarship is hard hitting. These documentaries are (in my opine) the best part of your channel. Also when you direct me to another past docus you've done I always click. Can you do more biographies like this?
Thanks Patrick, never read the book but your summary is the next best thing 👍
Great job I read this book 16 years ago over and over I would like to bring his story to the big screen one day
If this post get’s 500k likes then hollywood has to notice
I always enjoy your style and tact, when it comes to telling stories related to finance. You deliver with consistent quality. Thank you!
Glad you enjoy it!
This was such a great look at Jesse Livermore and his life. Thank you, Patrick.
Excellent story and excellent storytelling. Thank you, I really enjoyed watching all of it and I really hope someone steps up and makes this into a movie
This is the best finance video I have ever seen. If it teaches anything then it is that 1) Leverage is not worth the inevitable massive losses that will follow one day 2) Luck plays a big part in speculation, to the point where one wonders if Livermore his life was just a case of survivorship bias
His 1929 short was a calculated move, so was his painting the tape strategy.
This was better than most Hollywood movies 😆 Amazing stuff! 👌
This is one of the best channels on UA-cam. Great episode Patrick! Thank you!
Thank you so much for this content, sir. I have always found the subject to be a very interesting person, and really enjoyed the way you brought his story to life.
This is a well-researched documentary. Great job Patrick.
I found Reminiscences of a Stock Operator at a used book store one day, I had never heard of Jesse Livermore or this book but the title caught my eye. It was a heavy annotated version that was a little too much for me at the time so I left it there. Several months later I returned to that book store and it was till sitting there, so before I lost the opportunity I decided to buy it at last. It absolutely became one of my favorite books. I read it, then took to listening to the audio book on walks. Probably three times or so ive gone through it and always enjoy this book. Great video man as always
Wow this was a great episode. I am going to have to reread my copy of "Reminisces of a Stock Operator" again this year just to relive the joy I had after discovering this great book back in the stacks of the main library of my college in the mid 1980s.
Thank-you, Patrick, you are a wonderful raconteur. The life of Jesse Livermore has held a long standing fascination for me. I have made two fortunes and lost them both - now working on the third! It is exceptionally difficult to learn from one's mistakes and this was Livermore's greatest asset coupled with his obvious intuition on market action. The stories about Northern Pacific and cotton are especially salutary - in the end nobody can readily predict the future. Livermore's major early failing was risk management - which the bucket shops forced him into by closing out losing positions. Apart from the interesting tale there is much for traders & speculators to take from study of Livermore's life and its ups and downs. You have presented a well-balanced and insightful look into this brilliant yet deeply flawed man, enjoyed every minute...
I'm rock hard right now Patti boy
same
@@Recraw7get bricked up
Ditto
Bro says it’s only the lighting, but I think it’s that luscious head of hair.
Find God
I had literally just put down that book having finished the first chapter when your YT clip turned up. I enjoyed your overview very much. Thank you. Regards Paddy
Thank you, you're so easy to listen to... I'm here for more long form content if you're able to produce it Mr. Boyle. Excellent video!
Worth every second, thank you!!
Appreciate the content, it's like a 1:10 scale version of the book 🤷
seems to be the perfect length. you have covered the man's lif and experiences with a degree of detail many documentary makers would do well to emulate. The story as you have told it was enthralling, even riveting at times. No draggy points of going into the weeds too muc, just the right amount for me.
well done and thank you.
These are quickly turning into some of the best historical essays on the names that are often associated with the markets but rarely known in any great depth. Thank you.
Thanks for that Patrick. I have little interest in the markets but your channel has made them fascinating recently. That was a brilliant episode about Livermore. Keep it coming !
Well, I didn't think I would, but I did listen to the entire episode. The name Livermore was part of my childhood, possibly from a remote ancestor of the family. Reg Livermore, from memory, from Lockheed in California resonates with this story , mostly because of the wealth, his wealth, not mine! . A good narrative, thank you, Greetings from Australia.
You can’t discuss 1929 without understanding Jesse Livermore
I have read Reminiscences of a stock operator and confirm it is a great book. This is one co of Patrick Boyle’s best videos.
Thx for making this long and detailed
Thank you for this very well researched and very witty examination of Jessie Livermore. As a kid I used to watch "Wall Street Week" and I read "Reminiscences" ...which influenced me greatly.
I later became a full floor trading member of the American Stock Exchange.... walking down the same street in the opening of "WSW", and even market making in the same AMEX isle shown ...and became a long time New York Cotton Exchange floor member....as a prop trader and market maker in options on cotton futures. After blowing up and on the comeback trail, my clerk told me, "Mark, do you want to appear smart and clever... or do you want to make money?" I gave up trying to outsmart everything... and I never blew up again. Your story here made me reflect, once again, about how Livermore blew himself up several times after he had made enough to live as a very wealthy person the rest of his life. Thanks again for this video!
This was excellent, as entertainment and as education. Your videos pack a punch, thematically!
Excellent Patrick..What a fascinating story that only you could present so well..
This was a very interesting financial history Patrick, thank you for this.
I don’t know if I should be scared, amazed, inspired, discouraged, grateful, or envious. I don’t think I could stand a life with that amplitude of highs and lows.
This was a really fascinating history, thank you for uploading this story. I love your long form content.
great episode, livermore and baruch probably my favorite traders of all times
Top quality as ever Patrick. Thank you.
We like your long videos because it is a bit more detailed about topics no one is bothered about. Thank you for this one.
Damn, what a story. I wonder what his great grandchildren are up to.
fascinating story, I was glued to my screen, I'm 100% getting this book!
Patrick, thank you. Very well done, informative and compelling... A tad sad, but real.
Another outstanding long form, well researched and delivered piece from Patrick who never ceases to amaze. Thanks!
Wow..... what a great story! Thank you Patrick!
I really enjoy your long form content, especially when you take an approach that adds to the general conversation as you did with Livermore. I'm always interested in biopics if there are others you'd like to do. Thanks for adding to the calm, rational voices on UA-cam, Patrick.
Amazing story thank you so much. This is one of your best videos. Love your humor.
Your documentary videos are some of my favorites!
One of your best videos yet, thank you for making it!
Was a pleasure to watch
Thank you so much for this! Enjoyed watching it tremendously. Love Jesse Livermore and his book Reminences should be required reading for all traders.
54 minutes flew by! Thanks Patrick!
Thanks Patrick for not being afraid to make long videos when the topic requires it! 😊
👍
Thank you Patrick! Great story as always! 😍
Excellent video!!!! Congrats! Love your channel more and more each day. ❤
That was both quite educating and entertaining. Thank You for giving the source material too!
Very much appreciate your skillful storytelling and the commitment and research you put in to making these videos! Thank you also for including the sources you relied on!
Side note about the length: this made me think back to school and how I struggled to care or get interested during most lessons. It’s really shocking how that’s completely the opposite to this hour I spent. I was curiously fascinated and enjoying myself. I only checked how much longer I had left because I was sad it was going to end, and got excited when I still have half the video left! Glad you choose to adjust lengths based on the topics to fit your topics!
Incredible video, I've made it to the end. Thank you very much.
I always love your long form documentary's Patrick- thank you for covering another great story.
The psychology of trading is fascinating. When you see that one of the most well known winners still managed to lose everything several times, it makes you realise just how difficult it is. That won't stop people trying it. I did enjoy reading "Reminisces of a stock operator", made me think how little things have changed over the years.
Culture change, technology change, finance change. But human nature is the same!. That’s why the fluctuation paterns and charts are the same. Booms and busts
The biographical videos you put out are some of your finest work!
Thank you very much for crafting them.
Amazing in depth Video. Thoroughly enjoyed watching it.
Thanks Patrick, I really enjoyed that. I've read the book a few times. I learned a lot of extra information about Jesse listening to this video. No problem with the long video, it felt like 20min.
So happy you did this Patrick
When Patrick talks, I listen. Patrick’s videos are top shelf
Wow what a great video, you are quite talented as a biographer, the Charles Ponzi video you made a couple of years ago is another great piece. Thank you so much!
Thanks Patrick for this breathraking story, probably your best biography piece to date. I dunno about your trading skills but your story telling skills are undeniable.
Great video! Thanks for sharing your research efforts, very educational.
i can not thank you enough because of how detailed this content is about this legend. I respect Jesse Levermore for he is an inspiration. Despite of all his pitfalls, he opened up many people' eyes about how the market works
Another excellent, instructive historic with Patrick, thank you!
Great Sunday evening vid, thank you Mr Boyle!
As a person who has always snubbed "capitalism", I am surprised how strongly my world view changed after finding Mr. Boyle´s channel. Wish I had found this sooner in life, tbh. The clearly organized thoughts and facts have strongly influenced me. I think I am getting to be a more rational, pragmatic person through this. Kind of therapeutic :-D
Thanks, Mr Boyle, for all your work. Your learnedness, integrity and dry humour are much appreciated. Very helpful and most interesting channel! Greetings from Germany
Capitalism (with proper regulation) is the only system by which individual interests are aligned with the common good.
No surprise, your from a socialist country
what specific opinions of your did Patrick say, and what did he say to change them? This info might be valuable for convincing other people as well.
It’s always fascinating to me how these sorts of stories contain lessons that are applicable to today while also being set in a landscape so different from today that it’s fundamentally impossible to take the same path to victory.
I feel like a large part of what made men like this so successful was the vibrant energy of those earlier days. So full of hope and promise. Not sure that’s still around.
finished it. That was a rollercoaster of emotions.