Risk & Return - The Jesse Livermore Story 

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Length of a video is never an issue if it's done with high quality content! Absolutely a pleasure!

I love that you don't de-humanize the person you present. Even with Charles Ponzi, your documentary presented him as a human first. The same kind of emphaty is felt in this documentary as well.

"Girls with fans on staircases was a big thing back then, because there was no internet." 😂😂

Wow, what a rollercoaster! I’m shocked that Jesse Livermore’s life hasn’t been made into a movie to be honest. It would make a great biopic.

Best rap news and analysis channel out there!

"Her previous five husbands had all committed suicide" The manner in which Patrick baked that into the story, priceless! This channel is the best channel in the whole world.

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This is how you spend an hour on a Sunday morning

I agree with some of the things you stated. I put in 20k into various assets late last year and flipped into six figures within a few months and still going. I’ve always been an advocate of investing because it has been rather rewarding. I hope to attain financial freedom soon. One more thing, keep up the good work Patrick.

A story well told. The one hour video held my attention the whole time. That is an impressive achievement. Congratulations. Thanks for the effort, Pete

What's most striking to me is that this man accrued enough money to never work again, atleast 3 times in his life. But it was never enough, he was never able to step away and simply learn to live well and happily.

Anyone who trades knows that large swings in PNL are extremely damaging to the human psyche. The losses weigh extremely heavy and are felt much more than the wins. And yet, the big rewards don't come without the accompanying risk; but most people don't consider risk management first (to protect their mental health and trading confidence). Livermore lived on both sides to the extreme, and I'm sure the stress piled up and cost him, despite previous proof of bouncing back. The market shifted, as it always does, his strategy didn't work anymore, and now there was no coming back. I was happy to hear he established that Trust to serve as protection from poverty, but it looks like he may have undone it to try to bounce back and failed. He never learned to just walk away, because trading is all he ever knew.

This was superb - Jesse Livermore had a nephew by the name of John (Jack) Grant who I believe grew up in Florida who was a very dear friend of mine . To look at Jack and at Jesse the family resemblance is striking . To make a long story short Jack was a retired Lt. Col. from the USAF and like Jesse a genius with a degree in electrical engineering. He was also a commodity trader and market analyst both of us working for Siegel Trading Co. in Oklahoma City in the mid 70's . Jack taught me how to trade options always emphasizing the dangers of getting the big head when you had a nice win. Jack was involved in a nasty divorce and had suffered a substantial trading loss in a soybean play - he didn't show up for work one morning - I went to his apartment . He was deceased by his own hand , this was in June of 1976. Thanks in large measure to Jack's tutelage I am very comfortably retired. At the time of Jack's passing I knew nothing of the fates of Jesse Livermore's sons.

I think stocks moved a lot faster and bigger than they do now. More like the 1999 tech bubble. High priced stocks at $50 would fly to $500+ in a few months. $100 stocks would fly upto $1,000+ He traded upto the 1930's. So I imagine after the 1929 crash the stock market went through the same Those days are done. AFTER 2008 it has flattened out. You only need to get rich once. It's a shame he couldn't have walked away in 1929. A personality fault.

This felt like a storytime with grandpa. I loved it, Pat. Never heard of Jesse Livermore before this

".... You might not be up for another long video...". You kidding, right? Diving right in! Well researched, and presented, videos are a rarity. They're addictive when you come across them. Yours do not disappoint in that case👍🏻👍🏻 Keep 'm coming.

The guy has an interesting story but ended broke. Risk management was not his forte tbh.

I come here for hip hop news, instead I keep getting educated.

I've been enjoying your lectures quite a while now Patrick. Thank you for this episode; one of your finest.

Damn, what a story. I wonder what his great grandchildren are up to.

Very much appreciate your skillful storytelling and the commitment and research you put in to making these videos! Thank you also for including the sources you relied on! Side note about the length: this made me think back to school and how I struggled to care or get interested during most lessons. It’s really shocking how that’s completely the opposite to this hour I spent. I was curiously fascinated and enjoying myself. I only checked how much longer I had left because I was sad it was going to end, and got excited when I still have half the video left! Glad you choose to adjust lengths based on the topics to fit your topics! 🙏

this bucket shop stuff sounds like what's happening today lol.

This long form historical videos are some of my favorite ones.

Been familiar with Jesse Livermore since 2011 when I started trading. Every few years I look on RU-vid for fresh videos on him but they rarely provide any new insights. Patrick did a great job with this one!

I didn't understand all the comments about this being a long video until I checked the time. I was captivated the entire vid, broke down all the recycling while making a roast for Sunday evening meal - completely drawn into the story. Thanks for all the work in making this!

Thanks Patrick, never read the book but your summary is the next best thing 👍

Patrick, I was absolutely captivated by your storytelling and very much appreciated the time and effort you put into this fascinating subject. For me, the take-home lesson is that we can learn just as much from failures as we can from successes when we study the lives of others, especially famous or historical figures. Please keep on educating us and sharing timeless wisdom

Yeah when you’re marrying a woman that’s had four previous dudes commit suicide. Either she killed them and framed it or they couldn’t stand her THAT’S A STRONG STAY AWAY MESSAGE.

Wow! I have to admit I had no idea that is how bucket shops started - pure betting parlors - versus the pumping and dumping of penny stocks. Great channel, Patrick.

What a life! 100 brokers! ......and all before digital calculators and online Banking.....just how did Jesse keep account of his wealth and cash? Great story, very well told.

This was better than most Hollywood movies 😆 Amazing stuff! 👌

Worth every second, thank you!!

I just finished the Audiobook version of "Reminisces of a stock operator" highly recommend it for anyone who wants to learn more about Jesse Livermore!

As a Trader I have decided to separate my private life from the market swings😢market swings can send you to an early grave. When I saw the emotional toll that volatility caused on my life I decided to put aside 50% of the profits won from every trade into stable investments like Real Estate. It worked like magic,, once you know the market can't clean you out in one swing you start enjoying life, you can comfortably start a family, have long term friends and pursue other ventures. By the way Patrick I have really enjoyed this video😍you are a great story teller, this is the quickest 1hr I have ever had, excellent narration. This is your niche.

Livermore's story would make a great Netflix series, if handled well.

There are not too many videos out there that explain in detail the life of Mr. Livermore. I categorize him as one the Great financial philosophers the likes of Buffet, Munger, Marks, Templeton just to name a few come to mind. Time less wisdom. And thank you also for explaining how a bucket shop functioned I've heard of them in the past and also from reading Reminiscences of a stock operator but couldn't quite understand how they operated. You did a Great thank you.

My life was much like his. I was in the real estate business and did very well. I always wanted to take my business to the next level for the really big bucks... I was already working a hundred hours a week. Went through several booms and busts. Could no longer handle the stress and retired young... Went back to work at 67!!!!!! Something different....no stress!!!! Still at it at 72!!! Funny money!!!

I'm rock hard right now Patti boy

Excellent story and excellent storytelling. Thank you, I really enjoyed watching all of it and I really hope someone steps up and makes this into a movie

Wow this was a great episode. I am going to have to reread my copy of "Reminisces of a Stock Operator" again this year just to relive the joy I had after discovering this great book back in the stacks of the main library of my college in the mid 1980s.

You are truly a fantastic story teller. Thank you Patrick.

Thank you so much for this content, sir. I have always found the subject to be a very interesting person, and really enjoyed the way you brought his story to life.

You can’t discuss 1929 without understanding Jesse Livermore

Jessie Livermore's Wine Bar was one of the finer industry watering holes just outside the backdoor of the Chicago Board of Trade.

This story has lessons deeper than trading. It’s about experience, trial and error, learning from mistakes and blaming yourself not others for your mistakes.

Great job I read this book 16 years ago over and over I would like to bring his story to the big screen one day

This is a well-researched documentary. Great job Patrick.

Length of video is irrelevant as long the story telling is engaging & informative

So this guy made money by doing things that were made illegal later, before there was an SEC. After that, he never made money again and died by suicide, insolvent and four times bankrupt thanks to terrible spending habits, with a train of wrecked relationships and damaged souls stained by affairs, drunkenness, and intra-familial gunfire that was still suiciding in 2006. This is basically the Wolf of Wall Street: The Gilded Age.

Jesus, what a story!! hell of a job putting this together! why Hollywood hasn´t made a film about this guy? Thanks Patrick for putting this together. Love your humor :)

But one thing we have to remember Livermore back then could easily manipulate the market to pay him off in big ways was no rules or SEC back then so a lot easier to make money if you had the bigger capital back then

Top quality as ever Patrick. Thank you.

Livermore could have gotten two friends and a trench coat to sneak into the bucket shops.

I have read Reminiscences of a stock operator and confirm it is a great book. This is one co of Patrick Boyle’s best videos.

This was a very interesting financial history Patrick, thank you for this.

great episode, livermore and baruch probably my favorite traders of all times

41:49 I always love his little one liners. I am totally using that explanation when someone inevitably asks me about the Zigfield Follies when Funny Girl tours this year😂

I don’t know if I should be scared, amazed, inspired, discouraged, grateful, or envious. I don’t think I could stand a life with that amplitude of highs and lows.

This was such a great look at Jesse Livermore and his life. Thank you, Patrick.

"The biggest casino of all, the New York Stock Exchange." LOL!

This was a fantastic look at Jesse Livermore’s life. Thank you, Patrick.

"...there was no lender of last resort..." JP Morgan: Allow me to introduce... myself.

Thank you, you're so easy to listen to... I'm here for more long form content if you're able to produce it Mr. Boyle. Excellent video!

54 minutes flew by! Thanks Patrick!

It's videos like this that made me support you on Patreon.

Yo, bro ... I thought this was supposed to be a rap channel: (Verse 1) Yo, it's Jessie Livermore, the trading king, In the stock market, where the fortunes swing, Back in the day, in the roaring twenties, He played the game, no room for uncertainties. Started as a chalk boy, now he's making noise, Reading the tape, hearing market's voice, From the bucket shops to Wall Street's elite, Livermore's game was always on repeat. (Chorus) Jessie Livermore, master of the trade, In the market's rhythm, his fortune was made, Bulls and bears, dancing on the floor, In the trading game, Livermore wanted more. (Verse 2) Bucket shops banned him, but he stayed relentless, Speculating moves, making money senseless, Market wizard, with a sixth sense, Livermore's story, a financial suspense. From the wheat pits to the stock exchange, He played the game, never acting strange, Short or long, he knew the trend, Livermore's legacy, it will never end. (Chorus) Jessie Livermore, master of the trade, In the market's rhythm, his fortune was made, Bulls and bears, dancing on the floor, In the trading game, Livermore wanted more. (Bridge) Market crashes and the roaring thunder, Livermore's moves, lightning and wonder, From the highs to the lows, he rode the wave, In the trading world, Livermore was brave. (Verse 3) Big profits, big losses, he felt the thrill, Livermore's story, the real deal, The Reminiscences, a tale so true, In the trading world, he's the OG, it's through and through. (Chorus) Jessie Livermore, master of the trade, In the market's rhythm, his fortune was made, Bulls and bears, dancing on the floor, In the trading game, Livermore wanted more. (Outro) So here's to Jessie, the legend so grand, In the market's chaos, he took a stand, In the rap of trades, his story's told, Jessie Livermore, in the market, bold.

Patrick Boyle the official channel of Wallstreet bets degenerates trying to go legit 😅

I truly appreciate you, your work, and your sense of humor. Thank you.

Thanks for that Patrick. I have little interest in the markets but your channel has made them fascinating recently. That was a brilliant episode about Livermore. Keep it coming !

The tale of a gifted man who lacked vision and leadership for his own life.

Incredible video, I've made it to the end. Thank you very much.

I had literally just put down that book having finished the first chapter when your YT clip turned up. I enjoyed your overview very much. Thank you. Regards Paddy

Read his book, it's a good story and gives food for thought

Jesse Livermore is great great grandfather to brandy love

Excellent Patrick..What a fascinating story that only you could present so well..

Thank-you, Patrick, you are a wonderful raconteur. The life of Jesse Livermore has held a long standing fascination for me. I have made two fortunes and lost them both - now working on the third! It is exceptionally difficult to learn from one's mistakes and this was Livermore's greatest asset coupled with his obvious intuition on market action. The stories about Northern Pacific and cotton are especially salutary - in the end nobody can readily predict the future. Livermore's major early failing was risk management - which the bucket shops forced him into by closing out losing positions. Apart from the interesting tale there is much for traders & speculators to take from study of Livermore's life and its ups and downs. You have presented a well-balanced and insightful look into this brilliant yet deeply flawed man, enjoyed every minute...

Patrick, thank you. Very well done, informative and compelling... A tad sad, but real.

Well, I didn't think I would, but I did listen to the entire episode. The name Livermore was part of my childhood, possibly from a remote ancestor of the family. Reg Livermore, from memory, from Lockheed in California resonates with this story , mostly because of the wealth, his wealth, not mine! . A good narrative, thank you, Greetings from Australia.

The book needs a preface on Survivorship bias

Fabulous and interesting story. Historical info on early market trading which is practically non existent. It will help me trade more accurately. Thank You, Patrick, I really like your information. And as always very entertaining!!

Amazing in depth Video. Thoroughly enjoyed watching it.

Very interesting. I have to say: the fact that Mr Livermore's "system" didn't work any more after the advent of the SEC, and after there were tighter rules in place to outlaw various kinds of manipulation...well...that surely says it all, right!? (On the other hand, the fact that his single biggest success seems to have been based on a pure hunch or gut feeling is truly fascinating. As Mr Boyle says, it's hard to know what to make of it...)

When one of yours comes out, it's time to *drop everything* and watch!

In the early eighties i dabbled in commodities. I was churned by EF Hutton!!! I was a young fool. Just reminiscing!

Great video! Thanks for sharing your research efforts, very educational.

I like these histories better than Patrick's "regular fare". The word painting of Ziegfeld's girls and their routine was precious.

One of your best videos yet, thank you for making it! Was a pleasure to watch

This is an excellent video except for one important point. "His biggest wins (were) based on luck and irrational risk taking"? That is an incoherent and illogical stance. Intuition is a much better explanation of his shorting the railroad before the earthquake. When the mind gets hyper-focused, it sometimes pierces deeper layers of consciousness--to the omniscient super-conscious mind. Indigenous cultures on every continent recognize the power of tapping into that divine force inside each human being. The crude materialism and constant distraction of modern civilization make it a rare occurrence; and therefore, beyond the imagination of most "educated" people--such as professors of Finance.

As always, great content! Love the story, truly inspirational. Some people have such a crazy life.

This was excellent, as entertainment and as education. Your videos pack a punch, thematically!

If Livermore only used stops and always took some of the profits and put them away, things might of turned out differently.

Let's pay our respects to the master. RIP Jesse Livermore. Cheers guys from lake Titicaca Peru

I just realized that Jesse Livermore is the most Scrooge McDuck character I've ever heard of when his wife started spending wildly and he became villainized in the great depression @40:00

Amazing story thank you so much. This is one of your best videos. Love your humor.

The psychology of trading is fascinating. When you see that one of the most well known winners still managed to lose everything several times, it makes you realise just how difficult it is. That won't stop people trying it. I did enjoy reading "Reminisces of a stock operator", made me think how little things have changed over the years.

This is one of the best channels on RU-vid. Great episode Patrick! Thank you!

He wrote the #'s on the board. He doesnt want tips because he has a sure thing with knowing the price he wants to write. He used leverage in every trade and never fixed his mistake. He used multiple brokers to build even more leverage into his trade than he could with one broker. That's the thing though, he couldnt because he already owed so much money, so he always had to have his wife make his trades - when he'd go bankrupt he'd find a new one to run for him. He pissed off the wrong people that caught up with him. You hide for 3 days because you're scared for your life. He didn't shoot himself

I enjoyed this. Fascinating!

I tuned in for this video, and Patrick had 666k subscribers and the top comment is a guy that says "I'm rock hard" idk what universe I'm in now but I wanna go back