A Jesse Livermore quote on braveness

Today, I suddenly remembered what Jesse Livermore once said….or Laurence Livingston said in Reminiscences of a Stock Operator, I should say.

Reminiscences of a Stock Operator

If all I have is ten dollars and I risk it, I am much braver than when I risk a million if I have another
million salted away.

Well, Mr Livermore, that might be brave as you said. But it is certainly reckless, and such person is surely going to go bankrupt…as you did several times in your life.

I am chicken and only risk 2% of the capital in one trade. But so far the return is something I can be happy about.

There are lots to learn from his words and life. I don’t agree with him for everything, but every point he makes is what a speculator must stop and think time to time.

I found a nice page that has a collection of his quotes.

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