by Michael Noonan
“Nothing ever changes on Wall Street. Speculation is as old as the hills. What has happened before in the markets will happen again.” Jesse Livermore
Despite taking his life at the Sherry Netherland Hotel in 1940, at the age of 63, [he considered himself a failure], Livermore is revered by many as the consummate trader.
We often comment on the importance of rules, and our adherence to rules does not come from Livermore, but he always attributed his losses to the times when he failed to follow his rules.