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Books on investing

Forbes.com has the best books on investing. I won’t be reading these books – what’s the point? I can’t make an investment with my life savings of an old button and a packet of M&Ms, although this one sounds OK…..

Reminiscences of a Stock Operator, by Edwin Lefèvre

For pure entertainment, this book is hard to beat. It was first published in 1923 as a novel. Lefèvre follows the life and times of Larry Livingston, a fictitious name for Jesse Livermore, one of Wall Street’s shrewdest traders.

Hugely entertaining, this is an insider’s view of the stock market in the wild, unregulated days of the late 1800s and early 1900s. Livermore was a speculator who made and lost several fortunes. He never considered himself an investor and didn’t mind being long or short, so long as he was right. Correctly assessing that he would never catch the top or bottom, he would wait for a trend to develop and then jump in. In today’s market he’d be called a momentum investor.

What keeps this book so popular after 84 years? Livermore’s advice on exploiting fear, greed and the herd mentality are just as relevant today as they were then

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