Chapter XVI Summary and Analysis

Livingston makes fun of traders and the public hungry for the latest tips. Livingston believes his own success is due to ignoring tips, but rather objectively watching stocks and applying his own techniques and ideas. Livingston identifies the spreading of tips as a technique of stock manipulators and promoters, who do not have the best interests of their customers in mind.

Livingston notes that traders on Wall Street are just as bad when it comes to tips. Livingston gets tips every day and generally ignores them. He is constantly asked for tips and follows his early mentor Partridge by simply noting the general direction of the market. This earns him glares from traders. He tells amusing stories about tips gone bad, as where a trader earns money by always doing the exact opposite of what an insider tells him...