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Jesse Livermore (D. 1940 by self-inflicted gunshot wound) was known as the Boy Plunger and "Great Bear of Wall Street", was an American stock trader. He was famed for making and losing several multi-million dollar fortunes and short selling during the stock market crashes in 1907 and 1929. Most notably, he was worth $3 million and $100 million after the 1907 and 1929 market crashes, respectively. He subsequently lost both fortunes. Apart from his success as a securities speculator, Livermore left traders a working philosophy for trading securities that emphasizes increasing the size of one's position as it goes in the right direction and cutting losses quickly. Livermore sometimes did not follow his own rules strictly. He claimed that his lack of adherence to his own rules was the main reason for his losses after making his 1907 and 1929 fortunes. The popular book Reminiscences of a Stock Operator, by Edwin Lefèvre, reflects on many of those lessons. Livermore himself wrote a less widely read book, "How to trade in stocks; the Livermore formula for combining time element and price". It was published in 1940, the same year he committed suicide. There is some speculation that this partnership between the two men was not their first collaboration. Since Lefèvre was a writer and journalist, it is thought that he was one of the friendly newspapermen that Livermore employed for both information and planted articles. In 1933, the police were called when Jesse Livermore went missing. The next day, after disappearing, he returned home, walking unsteadily. He said he spent the night in a hotel and awoke with a blank mind. Reading newspaper headlines about his disappearance brought him to his senses. His doctor's verdict was "Amnesia nervous breakdown."
Offered is an original 6.5” x 8.5” International News photo from 1933, showing Jesse Livermore playing golf in Palm Beach as a much younger man (we’d speculate that this was taken in the teens).
The original paper caption reads, “New York. Photo made in Palm Beach, Florida, Jesse Livermore playing golf. He has been missing from his Park Avenue Triplex Apartment since yesterday afternoon, December 19th, when he told his wife, whom he wed in March 1933, that he was going for a stroll. It is feared that Mr. Livermore is a victim of kidnappers. A plot to kidnap him and Edward Doheny, California Oil Operator, was disclosed last September following the slaying of a gangster aboard a Pacific Ocean Gambling Ship.”
Press stampings on the back.
Crystal clear photo. We’ve never seen this photograph offered before.
Item: 13698
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