The Story of the Great Bear of Wall Street
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- Опубліковано 22 тра 2024
- This is the rollercoaster life story about a true pioneer of stock market trading - Jesse Livermore. This Wall Street legend was able to quit his 9-5 already at the age of 15 to become a full-time day trader. At 30 he earned his first million dollars right in the midst of the 1907 Banker’s Panic. In 1929 he became one of the richest persons in America as he shorted the stock market at the onset of the Great Depression. And both in between an after all this, he went completely broke a couple of times.
I think few other traders have had a more fascinating life than Jesse Livermore. A life filled with joy & despair, accomplishments & mistakes, fortunes & bankruptcies, and quite a few wives & mistresses. There are many lessons both in his accomplishments and mistakes for the aspiring investor, no matter if you are a long term investor or a trader.
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My main tool for fundamental screening and analysis of stocks: app.tikr.com/register?ref=tsi
(If you sign up I earn a small commission)
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Much for the information in this video comes from Richard Smitten's book "Jesse Livermore - World's Greatest Stock Trader" and from Edwin Lefevre's classic "Reminiscences of a Stock Operator".
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00:00 Intro
01:55 Chapter 1: Finding One’s Passion
06:07 Chapter 2: Learning From Mistakes
09:57 Chapter 3: King for a Day
13:40 Chapter 4: The Rollercoaster
17:22 Chapter 5: The $100,000,000 Man
22:17 Chapter 6: Endgame
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Many thanks to my friend Richard Dykes who helped in making this video possible!
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My goal with this channel is to help you make more money and improve your personal finances. How to become a millionaire? There are many ways to get there - investing in the stock market, becoming a stock trader, doing real estate investing, or why not becoming an entrepreneur? But whether you are interested in how to invest in stocks or investing strategies for creating passive income with rental properties - I hope to be able to provide you with a solution (or at least an idea) here. Warren Buffett - the greatest investor of our time - says that you should fill your mind with competing ideas and then see what makes sense to you. This channel is about filling your mind with those ideas. And in the process - upgrading your money-making toolbox.
His work is now called basic technical analysis
“There’s time to go long, time to go short, and time to go fishing” -best quote ever
Thanks for highlighting one of the most famous and interesting traders ever. Tragic story but interesting.
The Jesse Livermore story is my favorite on wall street. Reminiscences of a Stock Operator is top 3 favorite books
What are the other two books which come under your top 3?
Maybe probably Market Wizards and Intelligent investor as they one of the hot books in finance, and I also personally give much respect to The alchemy of finance although it's a hard book to grasp...
These videos add a lot of value and the Livermore twist video is great to get some context in history.
Thanks for the video or better, Tack.
Great video
Please keep making these !
Great story. It is important to remember that you can learn more from your failures than your successes.
A smart man learns from his failures. A wise man learns from other people's failures.
@@billbo9761 🙌 👏 🙏 🤝 👍
Excellent video very well done!! Thanks specially like the suspense you created at the start.
Reminiscences is still my favorite stock book to this day.
The best story teller out there
Favorite page ever
Wonderful video! More JL please
Great Vlog & Great Info !!.......... bless
Man I love this channel. Always good info and never an agenda. Thank you.
Incredible ! Thanks
Väldigt intressant! Bra berättat, bra jobbat! 🙂
Great video, thanks!
Marvellously presented as usual. Its a fascinating story and a lesson to all investors. Yes i agree with Das Fahrer: "Reminiscences" is still my favorite stock book to this day.
Best of the best videos I've seen for longest time.
My favorite Story Fam. Appreciate this
Your videos are so entertaining and yet sooo educational ;D
Fantastic and interesting story that is well presented and enjoyable. Thank you!
The Balance between Financial Goals and Personal Goals is unbelievable difficult for many people in humanity. You also have to put in it spirituality [Spiritual Goals] The life of such a great trader but the heart of man who faced many challenges and obstacles he eventually couldn't overcome.
Sad but truly a lesson i'll take for the rest of my life.
Great video!
that's one hell of a rollercoaster of a story
Key takeaways:
1. Traders like numbers and have above-average pattern recognition.
2. No one escapes from Dunning-Kruger effect.
3. Learn from mistakes to achieve enlightenment.
4. Don't use other people's playbook.
5. Be observant, there are leading indicators everywhere if you just pay attention.
6. When you/others are euphoric, sell/short.
7. Marry and be faithful to your wife, not to Ms. Leverage. Do the opposite and you'll ruin your life.
8. Don't ignore early sign of mental illness like depression.
I love all of your video,
I need to know everything about value investing and fundamentals analysis
great story!
The market technician is born! Amazing
That was a fantastic and obviously a lot of work went into the making of that. Brilliant! 👍🏼
Many thanks Simon JC!
i overheard to gentleman ( about in their 50's-60's ) talking about how we should all just spend as much money as we can and enjoy life before the nuclear bomb goes off. It just made me realize how the system we live under uses FEAR as one of their biggest tools, and it ironically takes away one of our tools "money".
thats the issue most people have. spending more money shouldn't be fun!
After all, the best things in life are free.
🙌 👏 🙏 🤝 👍 made my day sir . . . -> vox populi - vox dei !
@@webentwicklungmitrobinspan6935 🙌 👏 🙏 🤝 👍 yes they are FREE !!!
I finished reading "`Boy Plunger" yesterday and indeed history of Jesse is fascinating, yet tragic. But those wealthy years he and his family had, you can't take it from him, at least for a while he felt like investing God.
Fun fact: Porn star Brandi Love is Livermore's granddaughter
Weird fact 1: Livermore, Livermore junior and Livermore III, so father, son and grandson, they all committed suicide
Weird fact 2: Livermore's last wife had 4 husband before, and all of them committed suicide, Livermore was fifth.
5 Husbands suicided, clearly a true bitch witch.
Damn that's crazy
How many googled Brandi Love? 😅
This is insane
'Suspicious'
what a great takeaways
Extraordinary story !
It just reassures me that Buffet's ways are not the best neither the fastest.
But it sure will get to the promise land.
Ha ha ha brother, the REAL promised land is S h a m b a l a . . . nothing to do with money, gambling, speculation, sex . . .
Wow, what a fascinating life Livermore lived. It really shows you all the good and bad, how to make a comeback, and then fuck up again. Its sad, but its incredible lessons!
When u are born inteligent foe one thing but not for others ur life gets complicated. Not worth it but each person has a mind of its own & pay consequences accordingly . Great story I enjoyed it very much .
Great video. Have a like!
@The Swedish Investor welcome back. Hope your portfolio is set up the way you like it right now 😉
Haha, cheers HeThinksThatIThink! I'm getting closer 😂
Glad to see you're back on video making. He definitely had an interesting life - my takeaway is, why risk it all to make more money once you're already rich... no sense.
Hope all is good with your portfolio - this has been a tough year for all of us honestly, but the tide will eventually turn, as it always does.
It's like Buffett syas, rational people don't risk what they have and need for what they don't have and don't need
It seems like he felt like mastering numbers was his whole life. Not much in the story about what he did for fun outside of trading, except for sailing and fishing. ...maybe he was on the autism spectrum since those seem like hobbies that allow you to restore your thoughts in solitude and low stress processes, while his trading work was his high stress processes. In his chapter with Dorothy though, he at least started a small family.
If you want to understand why risk your money when already rich, you should understand what is capital and what is money. My English is bad sorry but if you understand "capital" and "money" you get why they invest.
He did it for the same reason he almost cornered the cotton market: because he could, for the love of the game.
Don't ask me why, but i love the video of water spilling over. 10:38 😂 cereal life
Up ,up and up.
I should say.. This was no short than watching a movie biopic.. very beautifully made video..👍 i would wish you be also called "the swedish trader",😊 so that we can get some very beautiful animated series on traders & trading strategies & trading books.. What say.. Please give a thought about this..
The book is great just very depressing at the end.
Lot learning
Excellent. You need to watch "The Money Masters" (1996) if you haven't yet; it's on youtube.
Easy come easy go
Kindly make video on Japnese Stock Market, how it remain flat for 30 years, what is changing meaning of inflation in modern day world
The original stock market degenerate.
But truly a tragic story.
16.11 do u have the full video link
Legendary😄
The root of my trading system that brings me 30%+ every year is from Jesse Livermore's wisdom. I read Reminiscences of stock operator 4 times to grab his message. For me he is the GOAT in trading industry.
Can you give a glimpse of that lesson which you took away from him.
It will be of great help for beginner like me
@@jayantchoudhary8703 One of his wisdom is "It never was my thinking that made the big money for me. It always my sitting". From this word I understand that I must have bigger guts to hold my winning position, not to cash in profit too early. Another wisdom "He must fear that hiss loss may develop into a much bigger losses, and hope that his profit may become a big profit". From this saying, I learn to cut losses as efficient as possible and hold winning position until the trend bends.
@@ivantirtakusuma Thanks for this valuable lesson.
I will definitely try to include this lesson in my psychology
Greek Tragedy Indeed.🎭
Jesse Livermore is a stock speculator not an investor. Why are you reviewing his life in your channel?
avoid triple L: liquor, ladies and leverage
...🙌 👏 🙏 🤝 👍
Love from karnataka India 💞😍😍💪🏻🇮🇳🇮🇳🇮🇳🇮🇳
Thank you for your videos, would you mind making a video comparing Nexans and Prysmian stock. They are leading companies in high voltage cable. I would love to hear your opinion on them
“There is time to go long, time to go short and time to go f*ck.”
This is just to tell you that the changed thumbnail and title did not prompt me to watch, but my timeschedule did. Thanks for the vid!
Hehe, thank you YassoKuhl for the info! I'm going to switch around a couple of times so hopefully, such things will even out. One definitely has to take timeschedule into consideration when deciding on the performance of the thumbnail + title!
@@TheSwedishInvestor Wait, you're the real one, not some spam bot trying to ship some shady investment advisor?! Mind blown! 😃
Did he go broke or did they break him.
A legend. His style is way too agressive to me, I prefer Darvas approach instead.
What about Jacob Little??? He was the true great bear
19:40 I feel attacked
😂
Imagine having 100 million dollars and not flipping long and slowly averaging in.
Max was here
I miss the music 🥲
Love from 🇮🇳
24:48....🤣🤣🤣🤣😂😂😂😂😂😂🤣🤣
I felt like I was watching a movie, well done :)
A Gambler living life on edge!!!
🙌 👏 🙏 🤝 👍HARD gambler !!
When you read a story like Livermores, its hard not to believe that he was both a victim and a winner of pure probability, got wiped out three times, then got rich and then got wiped out again...... he was not a good trader but a person who was willing to push the boundaries when he was right........ most billionaires have made gambles at times in their career that would have broken them, but you dont hear the stories about the attempted billionaires who lost you only hear about the winners.... its survivorship bias. If enough people attempt and fail someone eventually wins, its no different than a person who wins the lotters.
Many of these stories can be found on book "reminiscences of a stock operator" a nice reading that I enjoyed lately. Thanks Swedish investor for making this video, it was a nice recap enriched with some personal info that I wasn't aware!
Cheers nikosmihos! Yep, much of the info comes from that book + Jesse Livermore - World's Greatest Stock Trader by Richard Smitten. + something from Jesse's own book.
I believe "JL" stands for his first and middle name Jesse Lauriston Livermore.
wait this video says he was a trader? Trading didnt begin until 1970s
Perhaps he leaked discipline needed for trading, since he wiped out so many times…now days there are many concepts on this issue, then might have not!
I do t care what anyone says, strategy is important. Very important, but you also need some luck, to be in right spot and right time, and recognize opportunity. Many of these men are no different then anyone else, they just figured out the tempo, with a splash of luck😂… if you lose has much capital as this man, a lot of it was gambling along with his strategy, I think if he just ignored his emotions a bit more, he may have been good..
Reminiscence of a stock trader?
Yep, much of the info comes from that book + Jesse Livermore - World's Greatest Stock Trader by Richard Smitten. + something from Jesse's own book.
Yes, "Reminiscences of a Stock Operator" by Edwin Lefevre. Puzzeling to me why he isn't crediting the book.
@@Larry82ch He does credit the book in the description.
Awesome!!
Thanks for this storyline you are the best ,such a tremendous story.
Glad you enjoy it Michael ojochegbe Samson!
Nice renaming, i saw this Video a few days ago and thought to myself: Nah, i read his book and studied his trades, i dont need to watch this video.
Then i saw the new title and thought: interessting, the viewpoint of a great bear could be valueable.
Can you please please please do a video on Hetty Green, she is such a interesting contrarian investor but all the videos on her are boring.
🌈🐻
If this doesn't prove that trading is majority physiological, I don't know what will. Its 100% user error and if you're not in control of your mind then you'll be like the rest. Thats what i got out of this video
Such an interesting story
He never recovered after 1934 because many of his methods were made illegal when the Securities and Exchange Commission was set up by the FDR administration.
What the heck?
a true degen that is making wsb pale in comparison
📈📉📈📈📉📈📉📈📉📈📉📈📈📉📉📉📉📉📉📉📈📈📈📉📉📉📉📉📉
J.L.'s life is a roller-coaster of greed.
Great story 🤠. Can you make video on A.I trading.
The ancestor of the wallstreetbets degenerates.
I like happy endings so I gonna stop watching at 22:10 🤣
Pigs get slaughtered in the stockmarket
Who has not accepted the Lord Jesus yet, pray like this
Lord God, I come to You, as a sinner that I am, in the name
of Jesus asking you for forgiveness for my sins. Forgive me, Lord,
my sins.
Help me to improve, I can't do it alone.
Free me from all evil, because I want to walk in your presence
seeking to do good.
Make all things new in my life that you don't like
I ask you to come into my life so I can have eternal life
that comes after this life that the Lord has given me. and have the
salvation not to suffer eternally.
Amen to the God who made me and loves me.
We love because he first loved - Bible ...
We will repent of evil and do good. We will regret it and
come to God bearing the fruits of repentance, as it is written:
Produce fruit, then, in keeping with repentance. Matthew 3:8
first
Ppp
Please make vedio on forex trading raleted success history and also strategy
Long time Mann....
Feels good to be back! 😁
The issue with today's markets is that we can't even get a proper panic. Since QE started back in 2008, the rules have changed - the central banks rigged the game. If the 1907 bank-run happened today, the market would be soaring, bracing for a sector-wide bailout from the FED. The monetary addicts and the gamblers have dominated the market. The level of projection among the market participants is insane. They watch every single word from J. Powell and fit it into their own narrative either buying or selling everything from tech to well-established, high FCF companies. I wonder if we'll reach the point when market crash is bullish since crash means a new QE 🤔
Love from Pakistan
traders ! stay away from dating
Do you have any idea what was the average leverage of the guy? How to find this information please help
When he started out he was doing options so probably 100 percent. Then he started shorting hard to calculate the leverage of each trade. Then he was doing futures or going long. If you are a young guy it's better to buy the index than try some crazy trades.