September 16, 2021

Interesting Facts about Jesse Livermore

Interesting Facts about Jesse Livermore

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  1. Most traders are familiar with the most popular trading book of all time Reminiscences of a Stock Operator by Edwin Lefèvre that describes Livermore’s life through a fictional character, but few know that he wrote a trading book near the end of his life called How I Trade in Stocks that did not sale well at publication due to timing with World War 2.
  2. When Black Tuesday hit on October 29, 1929 and the market crashed, Livermore made $100 million going short.[1]
  3. In 1927, two burglars broke into the Livermore’s home and held him and his wife at gunpoint.[2]
  4. Porn star Brandi Love who was kicked out of a conservative conference last week is the great-granddaughter of legendary trader Jesse Livermore. Her actual name is Tracey Lynn Livermore.
  5. Jesse Livermore had a son named Jesse Livermore Jr. and a grandson named Jesse Livermore III. 
  6. Jesse Livermore Sr. did not attend Jesse Livermore Jr.’s wedding but as a present bought his son a Connecticut Pepsi-Cola franchise. The young man couldn’t handle the Pepsi-Cola franchise and sold it to avoid bankruptcy. [3]
  7. It is popularly believed that Livermore died broke, this is not true, he set up a trust for himself after one of his comebacks to make sure he would never be broke again. According to the books on Livermore that I have read he had untouchable trusts and cash assets at his death totaling over $5 million.
  8. On November 28, 1940, just after 5:30 pm, Livermore fatally shot himself with an Automatic Colt Pistol in the cloakroom of The Sherry-Netherland hotel in Manhattan, where he usually had cocktails. Police found a suicide note of 8 small handwritten pages in Livermore’s personal, leather-bound notebook. The note was addressed to Livermore’s wife, Harriet (whom Livermore nicknamed “Nina”), and it read, “My dear Nina: Can’t help it. Things have been bad with me. I am tired of fighting. Can’t carry on any longer. This is the only way out. I am unworthy of your love. I am a failure. I am truly sorry, but this is the only way out for me. Love Laurie”.[4]
  9. His son, Jesse Livermore Jr., died by suicide in 1975. His grandson Jesse Livermore III also killed himself. [5]
  10. The below photo is of Jesse Livermore and his wife Nina at the Stork Club in New York on Nov. 28, 1940, less than 24 hours before the former “Boy wonder of Wall Street” shot and killed himself. Donald Arden, club photographer, asked Livermore if he might take his picture. Arden quoted Livermore as saying, “Not at all; but it’s the last picture you’ll take, because tomorrow I’m going away for a long, long time.” (AP Photo)