Book Review: Wall Street Stories by Edwin Lefevre
I bought this book for two very notable things:
1. I’ve planned to get into the stock market for ages and I figured this book is a nice read and guide.
2. It was on sale at 90% off.
I was so excited to read this book that I literally brought it everywhere with me. I mean, it was a big plus that it was so small despite it being hardbound. I could never find it boring when I read this and I would always reread a few stories or two just so I can get the whole idea of why Edwin wrote it or to get the clues or the tricks the characters use to win at the stock market.
As mentioned earlier, I’ve been planning on getting into the stock market for ages and I finally did it on the first week of January. I invested P30,000.00 and bought from 6 companies. I’ve so far had very good performances from all of them despite the heavy hits last week. I’ve only really had one troublemaker but I figured the company’s price would go up again before the month ends. I never really had much of a clue of what the stock market is like and I had to read stuff from Investopedia. But I figured I needed an actual book about the market and not just some trade book either. I needed a fiction type of book that would teach me the do’s and don’ts of trading and this book by Edwin was just the one I needed.
The book was written in 1901 which makes this book more than a hundred years old. Despite its age, however, the ideas, the principles, as well as the greed are still applicable today. The only difference is that technology had progressed hundreds of times otherwise everything else is the same. The book dives in on the good people and the bad people of wall street. Often times, the good guys end up getting their fair retribution, their rewards for being true to people and not being greedy. But there were also the bad ones that either earn big or lose big. The reality here is that the most cunning of players get the big wins but the greed gets to them eventually. The lessons imparted on just about every story is that you must get rid of the greed if you want to win big and keep winning big.
I found the book short but sweet and I’m hoping to buy his famous work, Reminiscences of a Stock Operator.
8/10 because I wanted it to be longer and perhaps even with more stories.