Hot buy-sell tips

Jesse Livermore frequently wrote that he was extremely allergic to tips, both the giving of tips and the receiving of tips. For example (using a pen name) he wrote, in Chapter III of Reminiscences of a Stock Operator

“A man must believe in himself and his judgment if he expects to make a living at this game. That is why I don't believe in tips. If I buy stocks on Smith’s tip I must sell those same stocks on Smith's tip. I am depending on him. Suppose Smith is away on a holiday when the selling time comes around? No, sir,nobody can make big money on what someone else tells him to do.”

This week’s series of blog articles will be a review of comments about the giving and receiving of buy-sell tips in Jack Schwager’s first book
Market Wizards: Interviews with Top Traders

...continued tomorrow...

Copyright 2008 Raymond T. Lee. All rights reserved.
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