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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

1. How does Livingston drive up the price of Consolidated Stove?

2. Who does Livingston think benefits most from tips?

3. How does Livingston start his job with Imperial Steel?

4. What does Livingston suggest is the reason for urges?

5. Who offers to buy Livingston's shares of Imperial Steel?

Short Essay Questions

1. What happens to Livingston after he follows Percy's advice?

2. What does Livingston say about forces that can cause plans to go wrong?

3. What does Livingston notice about the price of Tropical Trading and what does he do about it?

4. What does Livingston do to keep from being broke again?

5. How does Livingston think James R. Keene would do in the market of Livingston's era.

6. Why does Imperial Steel hire Livingston and why do they need him?

7. What does Livingston warn about various conditions that affect the market?

8. What does Jim Barnes ask of Livingston? How was Consolidated Stove formed?

9. What does Livingston do when he returns to New York?

10. Is Livingston asked for tips? What does he say?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Further, bankers beg Livingston not to sell any more stock, as it might increase the general panic, throwing the whole system into irrecoverable disarray. Livingston knows this would make it impossible for him to translate his profits into cash. Livingston sends in orders to buy a vast amount of stock, beginning a market recovery.

1. Given what you know of Livingston's character do you think buying stock in this situation was self motivated or was there an altruistic component? Why or why not?

2. Why do you think the bankers asked Livingston not to sell anymore stock? How would that relate to the creation of the 1930 depression? Use examples from the book to support your answer.

3. Do you think, given what happened in 1930, the market system could ever be thrown into irrecoverable disarray? Why or why not?

Essay Topic 2

Livingston discusses the patterns various stocks show and how charts can be kept of these patterns and compared to market trends. By applying certain rules to the patterns, traders can decide if it is a good time to buy or sell a particular stock. Only the best traders make money with this approach.

1. Why does Livingston say only the best traders make money by using the patterns? Use examples from the book to support your answer.

2. Discuss several other situations in life where studying patterns are the best way to understand a situation.

3. Does this statement of Livingston's seem too simplistic, considering how few people actually make money in the stock market? Why or why not?

Essay Topic 3

This book is a work of fiction yet also a thinly disguised biography. Can a book be both fiction and non-fiction?

1. Would you classify this book as a novel or a biography? Why?

2. Research biography and fiction. Write a short essay explaining the difference.

3. Do you think a novel can have so much of the truth in it that it could be classified as non-fiction? Why or why not?

(see the answer keys)

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