5 Insights From Jesse Livermore That Will Change The Way You Look At Financial Markets Forever | Exploring Markets

5 Insights From Jesse Livermore That Will Change The Way You Look At Financial Markets Forever

Jesse Livermore is one of the most widely known and notorious speculators ever. During the stock market panic of 1907, Livermore was so successful at shorting the market and pushing it lower that J.P. Morgan himself asked Livermore to stop trading for, "the greater good." Stories like his encounter with J.P. Morgan made Livermore famous. Here are 5 of the most amazing insights Livermore had about investing and financial markets:
1.) Don’t trust your own opinion and back your judgment until the action of the market itself confirms your opinion. 
2.) Markets are never wrong – opinions often are. 
3.) One should never permit speculative ventures to run into investments. 
4.) The human side of every person is the greatest enemy of the average investor or speculator. 
5.) Few people ever make money on tips. Beware of inside information. If there was easy money lying around, no one would be forcing it into your pocket.