Jesse Livermore
USABiography of Jesse Livermore
Early Life and CareerJesse Livermore was a stock trader in the early 20th century who gained fame for his ability to make and lose fortunes worth millions of dollars. He was born in the small town of Ashton, Massachusetts and began his trading career at the age of fifteen. With his mother's permission, he left home because he did not want to be a farmer like his father. At the age of fifteen, he made a profit of $1000 (equivalent to approximately $20,000 in today's dollars) by placing bets in bookmakers' offices.
Fortunes Won and Lost
Throughout his life, Livermore won and lost multimillion-dollar fortunes. His most well-known profits were $3 million and $100 million during the stock market crashes of 1907 and 1929, respectively. However, he later lost all of this money. Many lessons and trading principles of Jesse Livermore are described in the book "Reminiscences of a Stock Operator" by Edwin Lefevre. Although Livermore's name is not explicitly mentioned in the book (except for the dedication), it is widely believed that he was the inspiration for the protagonist of the book and that the character's biography is based on his true story.
