Which Version of Reminiscences Of A Stock Operator Is Best?

I thought it was about time that I got myself a new copy of Reminiscences of a Stock Operator. I splashed out on the hardback version (first published in 2005) which includes the “classic artwork as it appeared in the Saturday Evening Post” in the 1920s. I haven’t been disappointed.

It’s physically a big book – about 9 x 11 inches. This means the artwork can be reproduced without loss of detail. You can click on the image of the bear above to get more detail. This cartoon is one of my favorites, showing a starving bear emerging from hibernation. (Livermore had a reputation as a perennial bear. Although the reputation isn’t wholly justified, his biggest triumphs tended to be on the short side of the market.) There are several other equally good cartoons throughout the book, none of which fails to raise a smile. I’ve not reproduced my number 1 favorite cartoon here though. If you get a copy of the book yourself, you can guess which one it might be.

Each of the 12 chapters of this new edition features an introduction from Charles Geisst, the financial historian. These are worthwhile additions, setting Livermore’s activities in their historical context. Details of trading in Livermore’s time – such as the legality of insider dealing (it was legal and rife) and the role of bucket shops are also set out to help new readers.

If you haven’t yet bought Reminiscences of a Stock Operator, and you’re happy to buy a larger sized book, this edition is definitely the one I’d recommend.