Jesse Livermore was born in 1877, he became a stock trader an investor, and in 1929 on one of the worst days of market history, he was shorting the market, meaning he was betting that the market would go down, and when it did go down, he made in a single day the equivalent of 100Million dollars then but in today’s money 1.3billion.

If you set that money aside and it makes you just 5% a year, you make $5,416,666 per month or 180k a day for the rest of your life.

Now we all know that feeling we get when we do something so well, that we believe we are the very best at it. This sent Jesse Livermore ego and confidence through the roof, and by 1932 he lost everything and disappeared for like 2-3 days but then came back home, but things would obviously never the same. 8 years later in 1940 he took his own life and died with a negative net worth.

What’s the Lesson here? A lot investor live by Jesses trading strategies, and make justification for why this time it’s going to be different. But the lesson here is simple. If you risk what you need and have for what you don’t need and don’t have, its foolish bet.

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CHAPTERS:
0:00 INTRO
3:02 THE LESSON OF JESSE LIVEMORE
4:23 CATCH-22
6:09 WHAT IS ENOUGH?
7:50 UNTOLD LESSON #1
9:14 UNTOLD LESSON #2
11:02 UNTOLD LESSON #3
14:37 OUTRO

Let me first tell you this story, it’s about a Rich People Party

One of the people who attended was John C Bogle, the guy who started the index fund and had a net worth of 80million dollars

And another attending was Joseph Heller who wrote the classic book “catch-22”, that sold over 10million copies and made a movie that made over 24million dollars

Obviously this party was filled with a lot of wealthy people but the Host was a Hedge fun manager ( who made more in one year than Joseph had made in the time history of his book, and John told this to joseph )

Joseph said one thing: He may have more money than I do, but I have something that he will never have….Enough.

The lesson here is Simple:

A lot of play a game of comparison and this game never ends ( and that’s why a lot people take unnecessary risk to get more and more and more and more )

Having enough doesn’t mean you don’t have a lot, it means you are happy with what you have and will not risk it all on a gamble

Things People Don’t say in the investing world:

First Learn to Be Fearful

This game is a marathon, so the goal is to survive and to outlive and out invest everyone with longevity

So having Cash on Hand, Having a Paid of Home, Not having a Bunch of debt

Second Maintain your status

Here another story about Rajat Gupta, he was worth 100million dollar but wanted to be billions

And he worked with goldman sachs so when he heard that warren buffet was going to invest 5billion into goldman to help the bank

He committed insider trading fraud to make an easy million and overall continue to do this for over 17million dollars

He went to Jail for 2 years, ruined his career and lost his reputation

Third Enjoy the present, Instead seeking more and more

This one is self-explanatory so I won’t give you story
But ask yourself what are missing out in the present
By having your mind somewhere you cant live (future )

The Secret to getting Rich in The Stock Market

If I follow the plan and keep investing by the time I’m Warren Buffet Age I would have 1.3billion dollars without the 8 hours he spends daily on investing

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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I’m an Accountant but I’m not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

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