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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. During his lifetime, Livermore gained and lost several multi-million dollar fortunes. 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 6.75” x 8.5” International News photo from 1933 (some creasing), showing Jesse Livermore playing wearing a bathing suit and sunglasses in Palm Beach, his personal playground.
Photo is dated December 20, 1933.
The original paper caption reads, “270327..WATCH YOUR CREDIT..INTERNATIONAL NEWS PHOTO SLUG(LIVERMORE-BATHING SUIT)
WHEN JESSE LIVERMORE ENJOYED PALM BEACH BATHING.
NEW YORK.....A PICTURE MADE SEVERAL YEARS AGO, SHOWING JESSE L. LIVERMORE, EVEN THEN A SPECTACULAR WALL STREET OPERATOR, IN BATHING SUIT, JUST BEFORE A DIP IN THE SURF AT PALM BEACH, HIS FAVORITE PLAYGROUND. LIVERMORE DISAPPEARED FROM HIS HOME AT NO.1100 PARK AVENUE YESTERDAY DECEMBER 19TH, AFTER TELLING HIS WIFE HE WAS GOING FOR A WALK. IT IS FEARED THAT LIVERMORE HAS BEEN KIDNAPED, SINCE A SIMILAR PLOT WAS UNCOVERED AGAINST HIM LAST SEPTEMBER. R218-20-32-11/29
The back of the photo shows "PROPERTY OF KING FEATURES SYNDICATE, Inc. 235 EAST 45th STREET NEW YORK CITY" and has a handwritten notation "A-1888".
Original Press stampings on the back.
Item: 13906
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