Our latest Longreads First Chapter comes recommended by Michelle Legro:

Long before the “Wolf of Wall Street” Jordan Belfort made his first million or snorted his first line of cocaine, turn-of-the-century trader Jesse Livermore, the “Great Bear of Wall Street,” accumulated over $100 million short-selling stocks before the crash of 1929. His life and times were immortalized in 1923 by author Edwin Lefèvre in Reminiscences of a Stock Operator. The novel became a bible for those looking to get rich quick (though rarely succeeding), and Livermore’s advice became legendary. “There is nothing new in Wall Street. There can’t be because speculation is as old as the hills. Whatever happens in the stock market today has happened before and will happen again.”

Edwin Lefèvre | Reminiscences of a Stock Operator | 1923

Our latest Longreads First Chapter comes recommended by Michelle Legro:

Long before the “Wolf of Wall Street” Jordan Belfort made his first million or snorted his first line of cocaine, turn-of-the-century trader Jesse Livermore, the “Great Bear of Wall Street,” accumulated over $100 million short-selling stocks before the crash of 1929. His life and times were immortalized in 1923 by author Edwin Lefèvre in Reminiscences of a Stock Operator. The novel became a bible for those looking to get rich quick (though rarely succeeding), and Livermore’s advice became legendary. “There is nothing new in Wall Street. There can’t be because speculation is as old as the hills. Whatever happens in the stock market today has happened before and will happen again.”

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Chapter I

I went to work when I was just out of grammar school. I got a job as quotation-board boy in a stockbrokerage office. I was quick at figures. At school I did three years of arithmetic in one. I was particularly good at mental arithmetic. As quotation-board boy I posted the numbers on the big board in the customers’ room. One of the customers usually sat by the ticker and called out the prices. They couldn’t come too fast for me. I have always remembered figures. No trouble at all.