DEFINITION of 'Jesse L. Livermore'
Livermore rose from a humble farming background to become a stock trader in Boston. Over the course of his career, he won and lost several fortunes in many arenas. A self-made man with no formal education or trading experience, Livermore focused on making money from the overall market directions and not concentrating on individual stocks. He believed that insider and professional research opinions were not a just means for stock picking as investors had to perform their own analysis.
BREAKING DOWN 'Jesse L. Livermore'
Livermore lived from 1877 to 1940. He espoused the strategy of buying and holding during bull markets and selling when market momentum began to shift. He believed that effort was a key component that separated the winners and losers in the investment world.