Trading Rules by Jesse Livermore was famously profiled in the classic investing tome Reminiscences of a Stock Operator, a book that has been called the best trading book every written.
Introduction to Jesse Livermore
Jesse Livermore was born in Massachusetts, in 1877. By the age of fifteen he went to work in Paine Webber’s Boston brokerage office where his job was to post the stock and commodities prices on the chalk board.
He studied the price movements of the stocks on the ticker boards and before long began to trade on their fluctuations.
When Jesse was in his twenties he moved to New York City to speculate in the stock and commodities market full time.
Over a time period of forty years of trading, Jesse developed an incredible skill for speculation and is said to have accumulated and lost millions of dollars several times over.
At the peak of his fortune, in 1929, Jesse was said to be worth around $100 million. It’s not easy to estimate but in today’s money, that would be worth somewhere between $1-14 billion.
But Jesse didn’t earn that money trading other people’s funds. He was a completely self-made man, trading with his own money and the type of returns he managed to make are unthinkable in today’s markets.