Saturday, 20 December 2014

“I Lost Two Bucks.”

[The following story comes from Chapter 12 of Jesse Livermore: World's Greatest Stock Trader (2001) by Richard Smitten. Jesse Livermore, the famous stock operator, was having lunch with some famous friends like Walter Chrysler (Chrysler Corporation), Ed Kelley (United Fruit) and T. Coleman Du Pont (DuPont). They asked Livermore (whom they call J.L.) about a recent wheat trade of his.]

“I just felt the demand for wheat in America was underestimated and the price was going to rise. I waited for what I call my pivotal point and stepped in and bought five million bushels of wheat, about seven million dollars worth.

Saturday, 13 December 2014

Why I Am Leaving Goldman Sachs

[This is the classic article directly reproduced from the New York Times (originally published on 14ᵗʰ March, 2012), in which the author, Greg Smith, explained why he left Goldman Sachs and revealed some dirty practices in Wall Street.]

TODAY is my last day at Goldman Sachs. After almost 12 years at the firm — first as a summer intern while at Stanford, then in New York for 10 years, and now in London — I believe I have worked here long enough to understand the trajectory of its culture, its people and its identity. And I can honestly say that the environment now is as toxic and destructive as I have ever seen it.

Saturday, 22 November 2014

Perfect Failure - Commencement Address to Graduate Class of the Buckley School (10th June, 2009)

[Famous fund manager Paul Tudor Jones gives this commencement speech in 2009 to a ninth grade class at the Buckley School. He talks to them about Failure and its difficulty but its importance as a motivator and learning tool.]

When I was asked to give the commencement address to a graduating class of 9th graders, I jumped at the chance.You see, I have four teenagers of my own and I feel like this is the point in my life when I am supposed to tell them something profound.So thank you Buckley community for giving me this opportunity.I tried this speech out on them last night and am happy to report that none of them fell asleep until I was three quarters done.

Sunday, 16 November 2014

“You Know, It’s a Bull Market!”

[The following piece of commentary was written by Bradley, Foster & Sargent, Inc. in 2003. While it was already over ten years ago, it still rings true in the beginning of every bull market.]
After spending many years in Wall Street ..., I want to tell you this: It was never my thinking that made the big money for me. It was always my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I’ve known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine – that is, they made no real money out of it. Those men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. 
Edwin Lefevre, Reminiscences of a Stock Operator, 1923

Friday, 7 November 2014

Reminiscences of a Stock Operator - Full Book (Abridged Version)

Reminiscences of a Stock Operator is the fictionalised biography of Jesse Livermore, one of the greatest speculators ever. The timeless insights found within these pages have inspired countless generations of investors and made this book one of the foremost investment classics of all time. And although most modern-day investors and traders are familiar with this investment classic, many do not know that Reminiscences of a Stock Operator first appeared in the 1920's as a series of articles and illustrations in The Saturday Evening Post. Now, for the first time ever, this beloved classic is available in its original, illustrated format.

Tuesday, 21 October 2014

How to Remove DRM from Amazon Kindle Books

Digital Right Management (DRM) in an eBook is a protection technique that keeps the file tied to the account of the person and prevent piracy. While it has the good intention of protecting intellectual properties, most DRM applications disable many useful features of the eBook even for valid owners, such as printing and copying content, which can be actually quite annoying for most people. Here are three simple steps to remove it:

Sunday, 12 October 2014

Outstanding quotes from How to Make Money in Stocks (2009)

How to Make Money in Stocks is an outstanding stock market primer by William O’Neil. Mr. O’Neil himself is a great investor who earned a fortune in the stock market and started a famous newspaper, Investor’s Business Daily, with this own money. He summarised his own experience and formulated a proven investing system known as CAN SLIM, which is the core idea he preached in this book and other works of his.

This book is considered a classic by many investors, where Mr. O’Neil shared the lessons he learnt from the like of Gerald Loeb, Bernard Baruch, Jesse Livermore, Nicolas Darvas, etc. Here are a few great excerpts from the book (2009, 4th edition):