Reminiscences of a Stock Operator - Chapter XXIII Summary & Analysis

Edwin Lefèvre
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Chapter XXIII Summary and Analysis

Livingston reviews the different forces that can cause a stock speculator's plans to go wrong, including ones inherent to the market and those related to unscrupulous activity. In the 25 years he has been active, the Stock Exchange has done a great deal to clean up its act and weed out charlatans. However, it is more difficult to be a stock trader, because the number of different stocks listed has increased greatly. It is difficult for a trader to keep up with them all and know enough about each stock to make good decisions. Further, due to the complexity of the market, most traders rely on tips, which Livingston believes are designed to mislead traders in a way that will benefit the insiders most. Insiders are usually attempting to sell large amounts of their own holdings at good prices. The...

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This section contains 227 words
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