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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 end up in his dealings with Tropical Trading?

2. What does Livingston say gives a trader the sense of what to do?

3. What do the insiders of Tropical Trading do when Livingston goes short?

4. What does any trade do to the price of a stock?

5. What does everyone finally think about Tropical Trading?

Short Essay Questions

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

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

3. What happens when Livingston starts buying up what Imperial Steel stock is on the market.

4. Sum up what Livingston says about cornering the market.

5. What does Livingston say about the press and insider trading?

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

7. What does Livingston begin to do for a living?

8. Why were the three main stock holders of Consolidated Stove angry at Livingston?

9. What does Livingston do when insiders in Tropical Trading try to knock him out of the market?

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

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Livingston gives a number of his opinions on the stock market.

1. Discuss Livingston 's opinions of three topics. Do you agree or disagree with him? Why?

2. Compare and contrast Livingston's opinions from this book with what you might imagine he would think today in the 21st century. How do you think his opinions would change? Would remain the same? Explain fully.

3. Discuss how you think Livingston's view on several topics from this essay informs his life as a trader.

Essay Topic 2

Livingston is convinced his own knowledge, ideas, and hunches serve him better than any other other sources of information. He discusses the importance of being objective and neutral and not preferring a bear or bull market, but trading based on what conditions actually are.

1. How do you think Livingston being convinced about his ideas being better than other people's might help and harm him in trading? Use examples from the book to support your answer.

2. Why do you think a trader has to be objective? Use examples from the book to support your answer.

3. Discuss what you see as the conflict between playing hunches and being objective.

Essay Topic 3

Livingston has met and become friends and/or colleagues or discussed a number of notable people, many of whom he discusses in this book. Discuss he following:

1. Choose three people whom Livingston mentions positively and give a brief idea of his opinions about those three people (or stereotypes).

2. Choose three people whom Livingston mentions negatively and give a brief idea of his opinions about those three people (or stereotypes).

3. Judging what Livingston says about different people in his text, how would you characterize him as a friend? As a colleague?

(see the answer keys)

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