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Best Trader of All Time
Liam Gill
December 20, 2023
Story of the Day
Jesse Livermore, an iconic figure in stock trading, is widely considered the best trader ever. Known as the "Great Bear," he was born in 1877 and began his trading career at the age of 14. His innovative approaches laid the foundation for many modern trading strategies. Livermore gained significant recognition for his shrewd investment decisions, notably shorting the market during the 1906 San Francisco Earthquake, a move that would equate to $8 million in today's currency. He further solidified his reputation during the Panic of 1907, earning the equivalent of $32 million today in a single trade. Livermore's most remarkable success came in 1929 when he foresaw the Great Crash and profited enormously, amassing what would now be $1 billion. However, Livermore's fortunes dramatically reversed, and by 1940, he had lost all his wealth, leading to his tragic suicide. Livermore's influential legacy in the financial sector continues to be recognized long after his passing.
Tweet of the Day
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A startup's Day 1 market vision is rarely ever the same vision that takes them to product/market fit.
In short, give yourself 2-3X the time you expect to iterate, make mistakes, and allow rejection to redirect you. This wiggle room is lifeblood. twitter.com/i/web/status/1…
— Jen Abel (@jjen_abel)
4:40 PM • Dec 19, 2023
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Insight of the Day
Bankruptcies are on the rise in the US. I’ve seen a few fintech companies focused on helping people who struggle to get loans/mortgages find alternative finances. There seems to be a market for helping those recovering from a poor financial situation. Is there more opportunity here as the demand grows?
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Onwards and Upwards,
