Reminiscences of a Stock Operator - Study Guide Chapter VI Summary & Analysis

Edwin Lefèvre
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Livingston gets a strong hunch and cannot shake the urge to sell Union Pacific stock. He starts selling, at first slowly, but then by the thousands of shares. He goes ahead with this because in the past when he has ignored strong hunches he has always regretted it. Just a few days afterward, the great San Francisco earthquake of 1906 happens. The extent of damage to Union Pacific's railways eventually causes its stock to plummet, and Livingston continues selling shares, making $250,000, his largest windfall yet.

Not long after, Livingston notices Union Pacific stock starting to rise. He starts buying to take advantage of the rise. However, the branch manager convinces him to sell the stock—he is certain Livingston is being played by company insiders and they will cause a turn-around in the price. Livingston sells, only to have news on the next...

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This section contains 211 words
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Buy the Reminiscences of a Stock Operator Study Guide
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