RE: [RT] My thoughts on the market

["Jim Ross" <jrosscpa@xxxxxxx>]

As I recall reading ‘Reflections of a Stock Operator’ I do believe he cornered a commodity (to the extent you accept it as his ghost written biography).  I don’t remember anything about JPM.  Its available for free on the Internet.  A really great read.

 

From: realtraders@xxxxxxxxxxxxxxx [mailto:realtraders@xxxxxxxxxxxxxxx] On Behalf Of Mark Simms
Sent: Thursday, September 18, 2008 11:42 AM
To: realtraders@xxxxxxxxxxxxxxx
Subject: RE: [RT] My thoughts on the market

 

Sorry, but this sounds like a B.S. story.

Livermore single-handedly controlling the market ?

 

 

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From: realtraders@xxxxxxxxxxxxxxx [mailto:realtraders@xxxxxxxxxxxxxxx] On Behalf Of chaze
Sent: Thursday, September 18, 2008 8:51 AM
To: realtraders@xxxxxxxxxxxxxxx
Subject: Re: [RT] My thoughts on the market

There is an interesting analogy when J.P. Morgan invited
Jesse Livermore
to a private meeting; circa 1907. He asked to infamous
trader to stop naked short
selling. The other measures Morgan then put into place
were credited
for saving the economy. Or so the story goes. Now you
have Paulson
and Bernake (now J.P. Morgan) telling the hedge funds
(Jesse Livermore)
that it is OK to sell naked short. That's how they were
able to manipulate
prices down. So the story goes, Moran's measures would
not have worked
had Livermore not agreed to stop naked short selling.
Fraud is rampant
and people should be going to jail and instead are bailed
out. The only
'moral hazard' was when the banking cartel was instigated
by the FRA of
1913.
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