How to Trade In Stocks Summary and Reviews

How to Trade In Stocks
by Jesse Livermore

How to Trade In Stocks
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Book Summary Information

Author: Jesse Livermore
Edition: Paperback
Audio: English (Unknown); English (Original Language); English (Published)
Published: 2006-02-17
ISBN: 0071469796
Number of pages: 224
Publisher: McGraw-Hill

Book Reviews of How to Trade In Stocks

Book Review: 5 Stars for Jesse Livermore, 0 for Richard Smitten
Summary: 2 Stars

First things first. The most important thing to recognize about this book is that the majority of it (about 2/3) was not actually written by Jesse Livermore. It was written by Richard Smitten, a man who tries (and fails miserably) to create a sort of monologue of Livermore, complete with phony quotation marks, in which the great trader outlines his system. Having said that, Livermore's actual writings are very interesting. The first few chapters of the book is a word for word transcript of Livermore's original text, and contains much in the way of useful insight and helpful tips and information. The Livermore Market Key at the end of the book is also Livermore's creation, and it, too, is useful in its own way.

The rest of the book is cobbled together by Richard Smitten, a man who seems to have made it his life's work to piggyback on Livermore's success in order to make a name for himself. Smitten took letters and interview transcripts and pieced together a phony Livermore monologue. It is unconvincing and a complete waste of time. The writing is abysmal, and Livermore's concise points and techniques (from the first part of the book, the part Livermore actually wrote) are repeated over and over and befuddled to the point that you have to remember that it is not actually Livermore speaking. Smitten's attempt to adopt Livermore's style of conversation fails miserably, and the whole of his work is tedious to the power of ten. I couldn't even get through it-I had to skip to the Livermore Market Key at the back.

The book also contains some shameless self-promotion in which Smitten attempts to peddle his biography of Livermore onto the reader and also his trading system, which he shamelessly claims will help you trade like the great legend. Smitten's writing is so awful I would never even consider anything else written by him-his seeming inability to create a concise sentence without a run on and his ineptitude at using question marks when necessary waxes tiresome in a hurry. The best book about Livermore's trading style is Reminiscences of a Stock Operator, and that book will get you closer to understanding the real Jesse Livermore than this drivel ever will. Aside from Livermore's own words (the only redeeming factor here), this book is utterly useless.

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