Found this excellent quote from the Elite Trader forums. In a response to one poster asking, "Why does everyone quote Jesse Livermore? He was a horrible trader, who blew up every couple of years. ", another forum member answered:
"Simple. He was a pure artist of "the game."
Artists always reach beyond their grasp. They sometimes succeed brilliantly. They sometimes fail tragically. But they never fail to inspire."
Speculation is an art form. And true artists, however flawed, never fail to inspire us.
Metals analyst and trader, Jim Sinclair talks with Eric King of the King World News broadcast about the gold market, mining shares, and the trading tactics of Bert Seligman and Jesse Livermore.
As instructive as he can be on the gold and metals markets, I have to tell you that it was Jim's opening comments on Jesse Livermore and his father, Bert Seligman, that had me glued to this interview. If you are a fan of trading and market history, you won't want to miss it. Jim even discusses Livermore's last years and offers a contrary view of JL's circumstances at the time of his death.
Enjoy the interview, and if you like the broadcast, check out these past Eric King interviews with Rick Rule and Jim Puplava for more great insights on the markets and our world.
If you missed last night's episode of Market Shrinkology (on Stocktwits TV) with Dr. Phil Pearlman, you missed a good one. That's why I'm posting it here for your archived enjoyment.
I've been recommending Phil's show lately to a few of my friends as I'm consistently impressed with the show's (and the channel's) no-frills, lo-fi, DIY approach. There are no fancy lights or makeup, no contrived set designs or teleprompters, just live web TV with a ton of interesting ideas and live feedback from the Stocktwits user stream.
As you'll see in this episode, poker and trading were actually secondary themes in a discussion on Prospect Theory, "rational aggression", and the relationship between fear and greed.
Still, there is some very interesting info here on position sizing and money management in poker and trading, with particular reference (from host and viewers) on the philosophies of poker player Doyle Brunson and trader Jesse Livermore. Plus, a few thoughts on the importance of keeping accurate and organzied trading records.
Enjoy the program, and check out Stocktwits TV for more shows done by traders, for traders.
Related articles and posts:
1. Poker investing: Jeff Yass of Susquehanna - Finance Trends.
2. Dasan on poker and investing - Finance Trends.
