"They say there are two sides to everything. But there is only one side to the stock market; and it is not the bull side or the bear side, but the right side” appears in the book Reminiscences of s Stock Operator (1923) by Edwin Lefevre. This opinion of the stock market was based on the experiences of legendary stock trade Jesse Livermore (1877-1940)—who some say actually wrote Lefevre’s book.
Another popular phrase from Reminiscences of a Stock Operator is: “Be right and sit tight.”
Wikiquote: Jesse Lauriston Livermore
Jesse Lauriston Livermore (1877 - 1940), American financial speculator.
. “There is only one side to the stock market; and it is not the bull side or the bear side, but the right side”
Wikipedia: Jesse Livermore
Jesse Lauriston Livermore (July 26, 1877 — November 28, 1940), also known as the Boy Plunger, was an early 20th century stock trader. He was famed for making and losing several multi-million dollar fortunes and short selling during the stock market crashes in 1907 and 1929.
The popular book Reminiscences of a Stock Operator, by Edwin Lefevre, reflects many of those lessons. Livermore himself wrote a less widely read book, “How to trade in stocks; the Livermore formula for combining time element and price”. It was published in 1940, the same year he committed suicide. It was later revealed by Livermore that he had actually penned the book Reminiscences of a Stock Operator, and that LeFevre had acted as the editor and coach. There is some speculation that this partnership between the two men was not their first collaboration. Since LeFevre was a writer and journalist, it is thought that he was one of the friendly newspapermen that Livermore employed for both information and planted articles.
Reminiscences of s Stock Operator
By Edwin Lefevre
Hoboken, NJ: Wiley
2004 (first published in 1923)
“Oh, it takes a man a long time to learn all the lessons of all his mistakes. They say there are two sides to everything. But there is only one side to the stock market; and it is not the bull side or the bear side, but the right side. It took me longer to get that general principle fixed firmly in my mind than it did most of the more technical phases of the game of stock speculation.”
Don’t Be Spooked by the Growling
By Rev Shark
11/23/2007 8:05 AM EST
“There is only one side of the market, and it is not the bull side or the bear side but the right side.”
-- Jesse Livermore
New York City • Banking/Finance/Insurance • (0) Comments • Sunday, July 26, 2009 • Permalink