Thursday, March 27, 2008

Reminiscences of a Stock Operator - Must Read Book

You must read this book. It's written in easy language. Try to spend some time on this book.I got interest by reading first chapter only.Just to make you interested: 1st ChapterI went to work when I was just out of grammar school. I got a job as quotation-boardboy in a stockbrokerage office. I was quick at figures. At school I did three years ofarithmetic in one. I was particularly good at mental arithmetic. As quotation-board boy Iposted the numbers on the big board in the customers' room. One of the customersusually sat by the ticker and called out the prices. They couldn't come too fast for me. Ihave always remembered figures. No trouble at all.There were plenty of other employees in that office. Of course I made friends with theother fellows, but the work I did, if the market was active, kept me too busy from tena.m. to three p.m. to let me do much talking. I don't care for it, anyhow, during businesshours.But a busy market did not keep me from thinking about the work. Those quotations didnot represent prices of stocks to me, so many dollars per share. They were numbers. Ofcourse, they meant something. They were always changing. It was all I had to beinterested in the changes. Why did they change? I didn't know. I didn't care. I didn'tthink about that. I simply saw that they changed. That was all I had to think about fivehours every day and two on Saturdays: that they were always changing.That is how I first came to be interested in the behaviour of prices. I had a very goodmemory for figures. I could remember in detail how the prices had acted on the previousday, just before they went up or down. My fondness for mental arithmetic came in veryhandy.

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