Livermore believes that there will be one of the biggest bear markets ever seen in the stock market of the ugly country, and the stock market index will plummet.

The first signal came in September 1929.

That's when Livermore saw a piece of news in the newspapers: the British were worried about their currency.

With news of an unprecedented Hartley financial fraud in the UK, Livermore was puzzled as to why the Bank of England had not taken remedial measures.

Maybe they didn't save because they couldn't do anything? A bewildered Livermore asked his British "spy" to find out.

The "spies" informed Livermore that the Bank of England was ready to raise interest rates.

Livermore also learned that the Federal Reserve Bank of the Ugly Country also intends to raise interest rates by 1 percentage point.

From this, he concluded that as soon as the bank interest rate was raised, many people would take the money and deposit it in the bank, and as a result, the capital in the stock market would be greatly reduced.

And, then, there will be a wave of stock selling. There are more people who sell and fewer people who buy, and it seems that the stock price must definitely fall.

At the same time, Livermore learns of an economist named Babson who has been speaking at business conferences across the country for three years.

He knew that Babson, like himself, was a stock market bearish speculator.

In fact, for the past two years, Babson has predicted a dark period for the economy.

In 1928, Babson said at a conference that if Smith became the boss of the donkey family, it would lead people into an economic depression.

However, Smith and the Donkey family did not come to power that year, it was Hoover and the Elephant family who took office, so Babson's warning was ignored.

The shrewd Livermore analyzed various newspaper clippings and found that Babson's warnings were of value to him.

Livermore ordered his subordinates to guard the telephone. Newspapers across the country got the grapevine that Babson was about to give a big speech.

As soon as the press was alarmed, and all the wheels were turning, Livermore immediately stepped into the stock market and began to sell the stock through friendly brokers across the country.

Using Babson's speech from the podium, Livermore shorted a total of $300,000 in stock.

Speaking to a large group of journalists, Babson said:

"It won't be long before there is a big crash that will take the major stocks and bring the Dow down by 60 to 80 points."

Less than half an hour later, reporters from all newspapers sent back messages to the editorial office by phone: ◥... ▃▂

"Economists predict a 60 to 80-point decline in the stock market."

Livermore took the lead and continued to sell non-stop.

Almost all of the Ugly Country afternoon newspapers reported the news. Almost every Ugly Country radio station broadcast the news.

Livermore continued to sell short until the end of the market, at which point other economists came out to refute Babson's view.

The next morning, Livermore abruptly reversed his trading position and bought back the stock he had sold.

Livermore only took the initiative because he judged accurately and was one step ahead.

Sure enough, within a few days, the stock market was back to its original state, and it was safe and sound. Livermore made a big deal out of it.

Livermore made a fortune and was planning another "massacre".

October is here.

On Thursday, October 24, the stock market price plummeted, and the first "explosion" blew the stock market to pieces.

On October 29, the stock market continued to fall sharply, and the second "explosion" blew the stock market to the end of its life.

Numerous stockholders have watched their securities become waste paper, and their wealth has been wiped out with the collapse of the stock market.

But Livermore, a stock market speculator, like a handful of others, had long since gotten out of his hands, and he was drinking his champagne.

Livermore had enough wealth for him to squander for several lifetimes.

But like a red-eyed guest, he still refuses to stop, and continues to make waves in the stock market, and he never gets tired of it.

In 1929, at the height of his career, Jesse Livermore established the multi-million dollar Jesse Livermore Family Trust, which ensured that his daily life would not be affected by the bankruptcy of his career.

Later, the Jesse Livermore Family Fund established Livermore Securities, and the establishment of the family trust fund was a very forward-looking move for Jesse Livermore, who had more than $100 million in hand at the time.

When Jesse Livermore became famous in World War I in 1929, some of the money was given to his wife, and some money was set up in a family trust.

In later generations, Livermore Securities, which has the blood of Jesse Livermore's family fund, is the most beautiful gift that Jesse Livermore, a world-class trading master, has left to the fans who worship him in the world.

In his later years, Livermore suffered from depression due to failed married life, and many deals failed.

In March 1940, he published his only autographed book, HotoTradeinStks.

But the book came out too late, and in his well-sailing years, it would have sold for millions of dollars.

But there is no one in the world who likes to lose, and he runs all over the world to get this book published.

In November 1940, on a snowy day, the landlord came to Livermore again.

He drank the remaining half bottle of whiskey, walked out of the apartment, walked around the street, looked at the luxury cars that were shuttling in and fro on the street, the dazzling array of goods in the shop windows, and looked at the beggars who stretched out their hands to beg on the side of the street, and he sighed and said:

"Fuck! This world is a world of the jungle, and it will always belong only to the rich! “

Livermore walked into the bathroom of a large hotel, pulled a pistol from his pocket, pulled the trigger on his head, and died at the age of 63.

His suicide note reads: "My life was a failure. “

Livermore eventually committed suicide because of a failed marriage, not bankruptcy.

He has gone bankrupt four times in his life, so bankruptcy is not a blow to him, and his life after bankruptcy is okay.

The first thing he did after bankruptcy in 1934 was a trip to Europe with his wife for 20 months, and before going to the deck, he told reporters:

"I hope to solve some problems in my mind".

When Livermore committed suicide in 1940, he still had more than $5 million in assets, and at the same time, Livermore Securities and the Livermore Family Trust remained in the world!

In 1914, after Livermore experienced the third major bankruptcy, during which he suffered another four years of the Great Depression, the capital market was boring, and there was no money-making effect, and he also owed a huge debt of millions of dollars.

He seemed to be at the end of his rope again, as only one broker was able to give him a 500-share trading line of credit.

In other words, for his life, there is only one bullet, a chance to pull the board machine, and he will either win or lose.

If he can't be in this only opportunity, first, look at the market; Second, choose the right stocks; Third, seize the moment; Fourth, show courage.

Regardless of which of these four conditions goes wrong, it will result in a result that there will never be a turnover.

Then he may really have to go bankrupt forever, and then, like 99.99% of people, leave the capital market forever.

In other words, for Livermore to survive, he had to make a trade with a 99.99% chance of success, and the stock market at the time was in a four-year recession, which was unimaginable to outsiders.

In 1914-07-11, Wall Street was closed, and in 1915-02-03, Livermore was already bullish on Bethlehem Steel, which had made a fortune from the war, and the stock was about $50 at that time.

But compared to the broader market, the Dow Jones Industrial Average did not show strength at that time, but the leading stocks showed a bull's horn.

Livermore held on to his patience, and by late May 1915, the Dow Jones' bull market had begun to intensify.

In early June, Bethlehem Steel's stock price began to soar, and within three weeks the stock price reached more than $90, entering Livermore's many successful "over 100" experience in the early years.

After spending more than 16 weeks waiting for the strength of the broader market, including six weeks for the strength of Bethlehem Steel stocks, Livermore bought at $98 and sold at $145.

In just two days, King Livermore has returned, and the Jedi has made a big comeback!

This is the reward of Wall Street's patience and experience in giving Livermore, from a bankrupt man to regaining all the confidence and equity of successful trading in an instant, with more than 6 weeks of patience and waiting, and the successful operation of Bolang One Strike completed the results in just 2 days.

It can be seen that in fact, for professional investors, the combination of psychology and experience can really find the right direction of market fluctuations.

After the campaign, Livermore never spoke to anyone in public about the stock, and remained silent on any questions from the market.

It was very difficult for anyone to get into his office in Hkher House, and the building management never acknowledged Livermore as a tenant working in it.

The top floor of the building, which once served as Livermore's master control room, is still closed to the public, leaving this mysterious penthouse for future generations to ponder.

It was in 1914 that the only brokerage at the time gave Livermore a 500-share trading credit that made Jesse Livermore's life a Jesse Livermore's famous fight, Bethlehem Steel!

So after Livermore's own family trust fund set up Livermore Securities, there was an internal rule circulating for customers who had been trading securities with Livermore Securities for a long time.

If you are in trouble and need temporary help, Livermore Securities can authorize a 500-share securities transaction credit for any stock, known as the Livermore Securities 1914 Special Treaty.

Livermore's strength lies not in his strong social network, but in the fact that he is the largest individual independent investor on Wall Street.

Because until his death, he operated independently, judged alone, and traded alone.

He never needed gossip, stock market insider or teaming up.

At least 80% of the schools of stock technical laws of later generations are based on Livermore's stock manipulation methods, which means that it is not an exaggeration to say that his operating system is the root of Wall Street trading technology.

"Bethlehem Steel" is undoubtedly the key point in Livermore's experience of investing in Wall Street stocks, whether it will be able to rise again after the third bankruptcy.

For this campaign, Livermore was a winner or loser.

Because for Livermore, who was penniless at the time, it was his only chance.

Why wasn't Livermore the most bullish on the ugly steel USSteel, which was also a steel stock?

Because at that time, Bethlehem Steel could not be compared with Chouguo Iron and Steel Company in terms of scale and production capacity.

By 1912-1914, however, Bethlehem's earnings had soared from $6.5 to $28 per share.

In other words, in less than two years, the company's net profit has accelerated by more than 400%.

The reason why the stock price has remained unchanged at $40-50 is not because of the company's profitability, but because the ugly country was in a depression of the economic cycle for four years on the eve of World War I, and it was the sluggish market sentiment that greatly suppressed the bullish trend that the stock price should have unfolded.

In the same period, although the earnings of Chouguo Steel Company continued to rise, in terms of its acceleration and supply and demand in the secondary market, it is obvious that Bethlehem Steel Company is a medium-sized growth stock.

Chouguo Steel is already a large enterprise, and the acceleration of diluted profits is completely incomparable to that of Bethlehem Steel.

Livermore started picking stocks when he was bullish on Bethlehem Steel's rise, waited patiently and waited for more than 6 weeks, and began to buy when he was fully sure that the stock would continue to rise, and it was a success.

In 1915, at the critical moment of life and death, Livermore was not dizzy, and immediately returned to the stock market to fight the game.

What he did was to emphasize and restore his experience and memories of intellectual success, and when he returned to the right path, he applied the importance of the probability of success in absolute returns.

His will tells him that the trader is completely incapable of playing the unreasonable or unfolding what is not expected to happen and unfold.

No matter how irrational an individual's long-term beliefs are, individuals are always unable to push or carry out unforeseen things that have not yet been initiated.

A bullet or a trigger must be used to defeat the opponent at the beginning, and the only way to do this is to predict the possibility and wait patiently for the possibility to become a fact, and start to shoot at the moment when the fact enters the moment it unfolds.

In every field of human endeavour, there will always be only a very small number of people who stand out and are extraordinary!

Livermore was one such man, a lonely man, a silent and mysterious man;

He is a genius in the field of speculation and a legend on Wall Street!

His first job was copying blackboards at a stockbroking firm in Boston, with a salary of $1 a week, and Livermore began trading stocks at the age of 15 and was worth millions of dollars before the age of 30;

He correctly foresaw the market crash of 1907, which monopolized the entire commodity market at that time and netted $3 million in a single day;

In fact, every bushel of cotton, corn and wheat in the Ugly Country at that time had its part!

In the midst of the crash, Morgan, the big banker, personally pleaded with Livermore to stop buying and selling short in the market in order to save the ugly country's economy from its embarrassment and decadence.

In 1929, Livermore was once again genius in securities trading, single-handedly defeating the entire Wall Street, earning a full 100 million dollars.

This man is a living legend.

To provide you with the fastest update of the king of the Atlantic who loves the big god deer and chubby, in order for you to see the fastest update of this book next time, be sure to save the bookmark!

Chapter 424: Meet the Legend (3) Free Reading.