Download or read book Reminiscences of a Stock Operator written by Edwin Lefevre and published by Prabhat Prakashan. This book was released on 2022-11-16 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.