"[The Livermores] lived in utter splendor, typical of the twenties when… society was showy and wealth was displayed. They had a beautiful place on 76th Street in Manhattan on the West Side, off Central Park. They had a floor at 813 Fifth Avenue because Dorothea did not like to go to the West Side to change her clothes. They had a house in Great Neck. They had a summer house in Lake Placid. They had a house in Palm Beach. They had a private railroad car, two yachts. The only yacht that was bigger was J. P. Morgan’s. And they used one of them, the big one, very frequently when they went to Europe. They lived very comfortably…
Jesse Livermore had a ticker tape in every home that he owned, on his railway cars, on his yachts… They had several Rolls Royces, lots of chauffeurs. They had a staff of about 20 or 25 and in each place, in each house, see, and with the exception of Dorothea’s personal maid, they did not take their staffs with them. They simply kept them year-round in all their establishments…
Oh, they lived. They really lived…... Mrs. Livermore was a spender. And, of course, she loved to buy. She spent her days buying and buying and buying…"
Patricia Livermore, daughter-in-law of Jesse Livermore
They talk a lot about him in this PBS video:
ReplyDeletehttp://video.pbs.org/video/1308436568/
Too bad his personal life was a wreck and he died penniless. But his trading is legendary.
ReplyDeleteBeanie, I have a great idea. Tell me if you agree with the theory that the USA could easily get the recession under better control if the price of oil could be manipulated to a lower price by simply convincing most investors and speculators to take positions that they could afford to lose and short the oil industry stocks some how so if everyone shorted the price could no longer go up. I guess everyone would have to hold there shorts forever and just consider their investment an investment in our future, Because if they would start to cover then the price would go back up.
ReplyDelete