Apparently this book, Reminiscences Of A Stock Operator, is quite famous in the Wall Street world and after hearing about it in an interview I decided to check it out. I’ve also been paying more attention to stocks recently and was hoping to get some insight into the elusive world of stock market trading.
The book is a fictional biography of the life of a real trader, created from extensive interviews by the author. It was a decent listen and might have been more enjoyable if I did work in the financial sector due to a lot of the technical explanations and the repetitiveness of the theme of all the stories. It is interesting though to hear about the life of someone so different from me who lived over 100 years ago.
The recent craziness with the Gamestop stock and the WallStreetBets reddit members market manipulation has been big in the news. When things like this happen you get a glimpse and attempted explanations of the insane ways that people speculate and bet on the market through often complicated maneuvers.
It’s was quite interesting to hear in the book of very similar actions to the Gamestop event being taken by traders back in the early 1900’s. It seems things have not changed much. It’s definitely a complicated system I will never fully understand.
“Another lesson I learned early is that there is nothing new in Wall Street. There can’t be because speculation is as old as the hills. Whatever happens in the stock market to-day has happened before and will happen again. I’ve never forgotten that.”
As an Amazon Associate I earn from qualifying purchases. Thank you for your support.