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Lessons from the Greatest Stock Traders of All Time
ISBN: 0071437886     Date Published: 2004-05-21     Author(s): John Boik
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150 Pages
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06/20/2013 01:24:52
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Editorial Review - Book Description:

The trading strategies of legends Jesse Livermore, Bernard Baruch, Gerald Loeb, and more provide ways to triumph in the market

Today`s bookshelves are so laden with Johnny-come-lately experts, eager to sell their knowledge to any and all, that it`s sometimes hard for traders to know which way to turn or whom to trust. Lessons from the Greatest Stock Traders of All Time makes the choice simple, examining the careers of five traders--Jesse Livermore, Bernard Baruch, Gerald Loeb, Nicolas Darvas, and Bill O`Neil--who, more than any others over the past century, demonstrated tremendous success at conquering Wall Street.

This technique-filled book presents numerous ways in which the timeless strategies of these investing icons can be used to tame today`s high-speed, unforgiving marketplaces. Comparing and contrasting the successes--and occasional failures--of these five giants of finance, it reveals:

  • What Jesse Livermore did to correctly call every market break between 1917 and 1940
  • How Bill O`Neil stuck to basics to create his famously effective CANSLIM system
  • The strategies Nicolas Darvas used to become a self-made millionaire several times over
Customer Review:
Total Reviews: (23)
  (11)      (7)      (3)      (2)      (0)
(3) Shared
99 of 103 People found the following review helpful.

Not bad!, August 31, 2004 BySteven Phillips (Ada, OK United States) - See all my reviews This review is from: Lessons from the Greatest Stock Traders of All Time (Paperback) This is an "ok" book that describes supposed trading methods of some "old master" traders in terms of an event-based trading model. This model requires buying upside breakouts from congestion areas on increasing volume during bull markets. This is a good method if one's disposition can withstand generally high-volatility trades. However, to claim that this mode of trading was actually used by Livermore, Baruch, or Loeb is perhaps claiming too much. Livermore was highly secretive about his trading. Although he discussed his psychology of trading in LeFevre's work, he did not go into much detail about his actual trading method. He later claimed that industry changes wrought by the SEC in the early 1930s made the markets less amenable to his brand of analysis. He made and lost four fortunes and ended his career and life by suicide in 1940. Baruch made a significant portion of his trading gains by means of London - New York arbitrage. There is further evidence that...
23 of 24 People found the following review helpful.

A shortcut to must reads about the best stock traders ever, January 7, 2005 ByServantofGod - See all my reviews This review is from: Lessons from the Greatest Stock Traders of All Time (Paperback) Notwithstanding the author's substandard writing and analytical skill reflected by the passages/chapters in concluding the rules, strategies and, similarities of the five legends, the material available to the chef (author) is just so superb that the dish is still too good for any trader to miss. I dont mean to undermine the author in whatever sense. However, I had read at least two whole books about each of the five gurus (except Nicholas Darvas, which I had read only one) that the impression of copy and paste is really strong. In fact, I had read six out of the 12 books marked in the Bibliography section and it's so hard for me not to get that uneasy feeling of plagiarism. In case you had not heard of those gurus before, this book will be a huge treasure to you. If you had heard the great names but read only bits and pieces of them, this book will do you much good. If you had read books including "Reminiscences of a stock operator" about Jesse Livermore, "My own story" by...
17 of 19 People found the following review helpful.

A little thin on the Application side, but does motivate to learn more, July 5, 2005 ByK. Kaczmarek "The things you own, end up owni... (Allen Park, Mi United States) - See all my reviews This review is from: Lessons from the Greatest Stock Traders of All Time (Paperback) Having been an avid trader for some years now, and a huge follower of William O'Neil I decided a book such as this could give me some insight into the mind of the other great traders outlined here. What you gather out of these five gentlemen's stories is the common themes of: Volume is the most important indicator, Buy stocks at all time highs, Add to positions thru pyramiding, and while all of these principles are common, and shown thru in the book, the author misses in providing examples for concrete evidence. Throughout the book there are maybe 7 charts, and most all of them devoted to the O'Neil section, and for that you will need to select from the selected reading section at the end to better understand how each of these individuals bought their winners. This book is a great starter in learning who the men are, and their life stories, but you have to dig outside this publication to really get the how behind their success.
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