Mr. Stanley Crowe is a legend in the futures market. From 65438 to 0960, Mr. Stanley entered the global financial center Wall Street. During his 33 years on Wall Street, he has been engaged in commodity futures trading in the futures market and accumulated a lot of experience. With the passage of time and the accumulation of wealth, Mr. Stanley took the millions of dollars he had accumulated on Wall Street, stayed away from this highly competitive market, roamed the world and enjoyed life alone. During his five-year tour, Mr. Stanley devoted himself to studying economic theory, finance and investment theory, and published five monographs successively. Crowe on Investment Strategy is Mr. Stanley's sixth monograph.
At present, China's futures and stock industries are still in the primary stage. Compared with the United States with a history of 100 years, there is still a big gap, especially the investment strategy of futures and stocks, which is still in a hazy state for investors. In this book, Mr. Stanley summed up his decades of investment experience, formed a set of analysis system, and had unique opinions on investment strategies in many cases. It is really a rare investment reference book.
Please allow me to thank Liu Fushou, Zhang Lianghua, Smith and Xu Jianping for their busy schedules to translate this book into Chinese, so that domestic readers can share this achievement of Mr. Stanley as soon as possible.
I had these thoughts a few years ago, but when I wrote them today, they were as timely as before. In fact, they have been important for the past 50 years or even 100, just as they will remain important for the next 50 years or even 100.
In 1849, Carl Elvis once said, "The more external things change, the more they will retain the essential things." This of course also applies to Livermore's investment countermeasures and strategies.
Jesse Livermore is probably the most dynamic and successful independent speculator and investment decision-maker in this century. Although he died in 194 1, his influence on later stock and commodity traders was enormous. I have read and even reread his works countless times, and I am one of his students. When I arrived in Asia, I was surprised to find that there were so many stock and commodity speculators on the other side of the globe who felt the same way about this investment legend.
About 10 years ago, I came up with the idea of writing a book about Livermore, using the memories of people who worked with him or knew him on Wall Street in the 1920s and 1930s. I advertised in financial newspapers and magazines for people who had first-hand information about Livermore and his work, but unfortunately, I started too late. No one with first-hand information can be found. It was disappointing, but my own career on Wall Street was very active and busy, so this plan soon ran aground and I turned to more constructive work.
But I never completely gave up my plan about Livermore. In the following years, I studied his works as soon as I had time, and made my own investment strategy with the help of Livermore's wisdom and experience.
Gradually, I had an idea. If I can't write a meaningful new book about Livermore, why can't I "collaborate" with Livermore to write a book? Writing a book with a man who rested forever more than 50 years ago? A colleague advised me that the "trench warfare" that has been abused for more than 30 years may give me too much pressure, unless, of course, I have a new theoretical view on the failure rate. I really don't have any innovative theory about the failure rate, but I realize that although the best part of Livermore's tactics and strategies has been developed and explained for the financial market, it will inevitably become a bit outdated after so many years. Perhaps these strategies can adapt to the new trading environment and be reinterpreted for a new generation of investors in global stocks, commodities and options. These new generation investors are increasingly welcomed by fast personal computers and powerful software systems.
The development of real-time data display system can be transmitted to the farthest corner of the world by satellite at the speed of light, and it has developed rapidly. These new things are beyond Livermore's dreams.