In fact, Jesse is a very emotional person, which can be seen from his several marriages.

Of course, his later life seems to be related to depression, and some people say that people who can get depression are the kindest people in the world.

Because they would rather let themselves be depressed than hurt others, and a speculative king, an empty devil, can be related to goodness, is it a contradiction or irony?

He has experienced many times the process from brilliant and dazzling success to poverty, poverty and failure;

According to common sense, a person like him who has experienced strong winds and waves should have a strong psychological quality, and it is impossible to commit suicide because of bankruptcy;

Then the root cause of his suicide, that is, deep in his heart, there is something deeper and not understood.

In his early days, Livermore had a deep belief in speculative success, and he was optimistic about his future.

He experienced temporary setbacks in his speculative career, often followed by a more successful one, which is his more obsession with the game of beating the market.

After many comebacks, his obvious judgment of failure is tinged with more optimism, which should be due to this kind of arrogance, obsession, and self-confidence are unprecedentedly inflated.

When wealth explodes to a certain extent, it is easier to relax ideologically, making it difficult for him to follow the speculative principles he has summed up for decades, and he always tosses himself into a dangerous situation.

This is Livermore's personality, and it must determine his final outcome.

When Livermore was losing money continuously, he did not operate in accordance with these rules and concepts, and he must have violated one or several of them at the same time.

And all this, it is difficult to say that he is not depressed, of course, the fundamental is the weakness of human nature, Livermore once said that "speculators sometimes make mistakes, and they know it".

Livermore walked step by step towards the focus of life, but in the end he could not escape the weakness of human nature.

People cannot be absolutely rational, if Livermore is an absolutely rational person, then he can do a good job of speculation in accordance with his trading principles, according to the previous market cognition, trading strategies, operating principles and risk control, it is impossible to go bankrupt.

In his later years, Livermore was depressed, miserable and desolate, and he was asked:

You have so much experience, how can you allow yourself to do such a stupid thing?

He calmly reached: "The answer is simple, I am human and I have human weaknesses".

And his weakness seems to be his love life.

Jesse's first wife, Netty Jordan, met in New York and got married less than a month after they met, but they separated after 6 months.

Livermore's development in New York did not go well, he lost his savings, so Livermore found his first wife, begged her to give away her previous jewelry, and pooled money for him to speculate in stocks, but was cruelly refused.

After rising again, he bought a $800,000 family annuity for his family.

However, at this time, his wife was about to divorce him, ending his first marriage in 17 years.

The second wife was Dorothy, and in 1918 at the age of 40, Livermore met Dorothy, the favorite woman of his life.

Livermore, who had experienced a failed marriage, spent his days drinking and keeping a mistress, which also caused Dorothy to suffer from depression and alcoholism.

After a drunken experience, he shot his eldest son in the leg, leaving him disabled for life, and although the two had two sons together, they eventually divorced.

Dorothy got 10 million in breakup fees, the villa and custody of his son, and in order to get revenge on Livermore, Dorothy sold all the jewelry for less than $10, and the villa was also disposed of for more than $200,000.

The third wife, Harriet Mays, who has been married five times, and two of his husbands committed suicide, one of whom hanged himself because of a stock market failure.

On November 28, 1940, after an argument with his wife, 63-year-old Jesse Livermore pointed a pistol to his head and pulled the trigger in the cloakroom of the Shirley Hotel in Manhattan.

Later, in one of his notebooks, he found the 8-page suicide note:

Everything is bad for me, I'm tired of resisting and can't hold on any longer, that's the only way out! I don't deserve your love, I'm a loser, I'm really sorry, but this method is the only way out for me.

After his death, his funds and other assets were liquidated, worth more than $5 million, so he died not from poverty, but from a bad mental state and bad family relationships.

Unfortunately, in 1975, his son Jesse Livermore Jr. got drunk, beat his beloved dog to death, and then shot himself, and Livermore's grandson also died by suicide, is this also genetic?

Today, Jesse is going through the glory moments of his life, and of course, he is not at his peak.

Even so, his wealth and life are beyond the reach of countless people.

By this time, Livermore's personal assets had reached $25 million, and his life was extremely luxurious.

His assets include a beautiful apartment in Manhattan, a railroad coach car for his own use, a villa in Europe, and a weekend home on the North Shore of Long Island, New York......

He also owned a purpose-built aircraft for his own use, which was almost unheard of in this era.

When Lai arrived in New York, Jesse was having lunch at one of his restaurants.

"Sit down, Lee, I've heard of it for a long time."

With sloppy hair and messy clothes, he doesn't look like a successful person.

Still, the shrewd eyes in the chaos revealed something.

"Jesse, I hope my presence doesn't disturb your lunch."

"No, I'm almost done eating, if you get hungry, you can order anything, count me in."

"If you don't eat it, just give me a cup of coffee."

Called the waiter and ordered a cup of coffee, Jesse got straight to the point:

"On the phone, you want me to help you set up a trust?"

"That's right!" Li Yaoyang affirmed.

"Why me?"

"I like your investment philosophy, you don't rely on news fundamentals, you don't rely on the side door, which coincides with my thoughts!"

"Oh?"

"As you can see, I'm a Chinese, and you know how difficult it is for me to walk among white people, so I've always been alone, and so have you!"

Jesse shrugged his shoulders:

"Are you saying I'm withdrawn?"

"It's not impossible if you have to say that."

"Ha~ interesting, you are the first person to say this about me, and you are still a young man~"

Li Yaoyang looked at him and couldn't help laughing:

"You mean, I should be afraid of you?"

"So you're not afraid of me?"

"Why should I be afraid of you? Do you eat human flesh? ”

Jesse smiled:

"Ha~ It's so interesting."

"I'm definitely not as good as you in terms of wealth, but I also earn a lot, and in terms of social status, you have a great reputation on Wall Street, and I control Atlantic City behind the scenes, so I'm no worse than you, right?" Li Yaoyang spread his hands.

"You're right, okay, let's talk about the trust fund."

"In the initial stage, I will inject 5 million dollars into the fund, and after that, I will fix 1 million dollars every year."

Jesse couldn't help but smack his lips:

"It's a bit small."

"This is just the beginning, man, you see, the trickle of water is the eternal."

"Hmm... There is some truth to it, so what do I get? ”

"The trust fund is under your full control, and it will not be withdrawn until you die, and there is no performance requirement for you, as long as the overall level of profitability is reached."

"Oh? Such a loose restriction? ”

"As I said, you are solely responsible, and naturally you will be given the greatest freedom."

Jesse muttered:

"But I don't want to be distracted."

"In fact, it doesn't take up too much of your energy, you can use this money to complete your own investment needs, of course, you can get 30% of the profits." jj.br>

"Only 30%?"

"Accumulate a lot, you are not a greedy person, eh~ to be precise, you have passed the age of greed."

Jesse touched his big nose, looked out the window at the traffic, and couldn't help but say:

"We've never met, and I'm grateful for the trust you have placed in me, but to be honest, I'm not interested."

Li Yaoyang frowned slightly:

"Let's change the subject first, do you have any stocks that you are optimistic about lately?"

Jesse raised an eyebrow:

"You're asking me for news?"

"No, in fact, I have a very bullish stock~"

"Huh?"

"Freeport Texas."

Jesse Livermore's face changed instantly, and his spirit tensed.

"I think this company is grossly undervalued and deserves our collective attention."

In fact, manipulating the Free Port of Texas proved to be Livermore's most successful operation in driving up the stock price.

It turned out to be one of the best investment ideas he had.

When Livermore and Bliss first discovered it, the price of the Texas Freeport Company had more than doubled in 12 months, from a low of $8 in 1925 to $19.

Bliss was intrigued by the sheer ascent of a company he had never heard of.

Livermore has more respect for Bliss than for other Wall Street players, believing he has the same talent for reading quotes as anyone else. He is also a master promoter who can "spark" interest in any stock in any situation.

He also has a special trick that allows him to enter the market and buy and sell large quantities of shares without anyone knowing that he is in charge.

Livermore and Bliss have a long history together, and they have already made money together with companies such as Pigeri Vegli, computer watchmaking companies, and railroads.

The relationship was successful because it was one of equal partners, the two of them contributed equally, made decisions together, and Livermore's contribution to the partnership was the manipulation of stocks.

Before Livermore and Bliss stepped in, Freeport Texas seemed satisfied that its stock hadn't fallen because no one had ever sold it.

Again, there is no incentive to buy the stock.

The stock is effectively dead, and shareholders seem content to keep it that way, which is why the sudden rise in the share price the previous year attracted Livermore's attention.

When Bliss made the suggestion, Livermore asked his employees to see Freeport in Texas.

They reviewed the financial reports, and Livermore, who had established a large research institute on the 18th floor of the Hexschel Building, received reports that were professional, objective, and impartial. Livermore's report shows that Freeport Texas is indeed a very valuable asset that has been completely ignored by the market.

The company was founded in 1912 as the Freeport Sulfur Company, which built and developed its own port on the Texas coast, called Freeport, located near the Sulfur Mine.

It then bought a fleet of ships to transport the sulphur, and as a result, the company became the world's largest supplier of sulphur.

There are two main categories. Namely: food-grade sulfur, industrial-grade sulfur;

Food-grade sulfur: For example, sulfur has the effect of bleaching and preservative in food production, and it also plays an important role in the processing of corn starch as an essential material and the processing of dried fruits;

Industrial-grade sulfur: such as electronic semiconductors, plastics, latex, papermaking, pharmaceutical fine chemicals, industrial ceramics, building materials and auxiliary materials and other industrial sectors.

Its ability to quickly supply large quantities of sulfur from its sulphur mines along the Gulf Coast is unsurpassed anywhere in the world.

The company is a sleeping giant that is grossly underrated anyway.

After several months of investigation, the long manipulation of Freeport, Texas, began.

Livermore and Bliss began their activities, determining how much share capital was available for purchase, and at what price.

They immediately bought all the shares for sale at a price of about $20.

They found that as long as there was a buyer, they would get the rest of the stock, which Livermore and Bliss had accumulated as quietly and quickly as possible.

The duo set a goal of buying 200,000 shares at an average price of $25 per share, which they expect will cost them a total of $5 million.

As a result, 200,000 shares were accumulated, and the average purchase price reached $30.

As they believe, the stocks are worth at least $50, so that's not a problem.

As the stock is bought, it is bound to get a boost and be embraced by unsuspecting buyers, the so-called retail investors.

In his Memoirs of a Stock Trader, Livermore explains how he initiated his long list:

"I didn't give anyone a bullish tip, I didn't need it.

My role is to seek to exert a direct impact on market sentiment through the best possible communication channels.

I'm not saying that there shouldn't be a campaign to spread the good message.

It is indeed reasonable to advertise the investment value of a new stock, just as it is to advertise the value of a new woollen item, a shoe or a car.

The public deserves accurate and reliable information.

What I mean by that is that the quote newspaper has served all the purposes I need.

Respectable newspapers are always trying to justify changes in the market, and that's news.

Their readers need to understand not only what is happening in the stock market, but also why it happens.

Therefore, the operator does not need to move his little finger, and the writer of the financial media will print all the information and rumors that can be used, and at the same time analyze the company's profits, business situation and business prospects.

In short, whatever it is, it can explain the upward trend.

Whenever a journalist or an acquaintance asks me for an opinion on a stock, if I do have an opinion, I know everything.

However, I don't give unsolicited advice, and I never give advice.

But in my process, it doesn't do any good to keep it a secret.

I've learned that the best tips-spreaders, and the most convincing of all salespeople, are the quote tapes. ”

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Chapter 425: Meet the Legend (4) Free Reading.