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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter XX.

Multiple Choice Questions

1. What do the insiders of Tropical Trading do when Livingston goes short?
(a) Run the stock back up.
(b) Ask him to hold on to the stock.
(c) Make the price drop way down.
(d) Put bad articles about him in the newspaper.

2. How much money does Livingston make when he first comes back from St. Louis?
(a) He gains slowly, but steadily.
(b) He loses money.
(c) He makes a huge amount of money.
(d) He makes a moderate amount of money.

3. What does Livingston say about a drop in a stock price?
(a) It wouldn't drop if it weren't justified.
(b) It only drops as the market is going down.
(c) It was too low for buying.
(d) It was too high for buying.

4. What does any trade do to the price of a stock?
(a) If selling the price goes up.
(b) Nothing.
(c) Affects it.
(d) If buying the price goes down.

5. What is an important aspect of trading successfully?
(a) Having good advice.
(b) Being willing to bet on even odds.
(c) Having patience and waiting for the right moment.
(d) Having enough money.

Short Answer Questions

1. After Livingston gets used to Wall Street, how much does he reach at one point in the early part of his career?

2. Why does Livingston say traders are often vilified in the press and by other traders?

3. What type of time is the trading at a bucket shop?

4. What concerns Livingston in 1906?

5. What has he regretted ignoring in the past?

(see the answer key)

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