Why do traders still quote Jesse Livermore?

Found this excellent quote from the Elite Trader forums.

In a response to one poster asking, "Why does everyone quote Jesse Livermore? He was a horrible trader, who blew up every couple of years. ", another forum member answered:

"Simple. He was a pure artist of "the game."

Artists always reach beyond their grasp. They sometimes succeed brilliantly. They sometimes fail tragically. But they never fail to inspire."

Speculation is an art form. And true artists, however flawed, never fail to inspire us.

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Seth Klarman: Margin of Safety (pdf)

Welcome, readers! Signup for free email updates at the Finance Trends Newsletter . Update: PDF links removed due to DMCA notice. Please see our extensive Klarman book notes below. New visitors, please check the Finance Trends home page for all new posts. Here's something for anyone who has been trying to get a look at Seth Klarman's now famous, and out of print, 1991 investment book, Margin of Safety . My knowledge of value investing is pretty much limited to what I've read in Ben Graham's The Intelligent Investor (the book which originally popularized the investment concept of a "Margin of Safety"), so check out the wisdom from Seth Klarman and other investing greats in our related posts below. You can also go straight to Ronald Redfield's Margin of Safety book notes . Related posts: 1. Seth Klarman interviews and Margin of Safety notes 2. Seth Klarman: Lessons from 2008 3. Investing Lessons from Sir John Templeton 4.

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