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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. When Livingston is looking at the price of Tropical Trading what is the market doing?

2. What does one have to do with profit on paper?

3. What does Livingston do after the Tropical Trading event?

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

5. What does Livingston say a trader needs to make a good decision?

Short Essay Questions

1. How does Livingston feel about tips and to what does he attribute his success?

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

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

4. What is one of the primary tools to manipulate a stock?

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

6. What does Livingston say about broker letters?

7. How does Livingston feel about hunches?

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

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

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

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

The young Livingston is fascinated by patterns in the tape and has an excellent memory for numbers. He is able to remember the patterns various stocks normally exhibit well enough to predict their behavior or notice if they act strangely. He records his predictions and compares them to the actual performance of the stocks. Livingston trusts his observations more than tips from others.

1. What would you say about Livingston as a person based on the above paragraph?

2. Livingston is 15-years-old when the book opens. Describe the characteristics you see in Livingston that you would consider typical for a 15 year old and the ones you consider more adult like.

3. Livingston from the brief description above seems like a very organized, possibly even obsessive individual. Discuss the ways you believe this type of personality might do well as a stock broker.

Essay Topic 2

Livingston is flat broke and becomes ill. He goes to Chicago to recover. He wonders how he made so many mistakes. He goes back to New York.

1. What do you think the typical person would do if she/he were in Livingston's position?

2. Why do you think Livingston has continued to make mistakes in his trading? Use examples from the book to support your answer.

3. Given that Livingston is flat broke yet again, still he returns to New York. Why do you think Livingston keeps trying?

Essay Topic 3

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.

(see the answer keys)

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