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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

1. How does Livingston play on the market when he returns from St. Louis?

2. What happens to Livingston when someone buys up all the corn?

3. Why does Livingston keep losing money on stocks?

4. Why doesn't Livingston learn the new techniques for betting on Wall Street?

5. What does Percy believe about the cotton market?

Short Essay Questions

1. Why does Livingston wish he had not listened to his branch manager?

2. What do customers in bucket shops do?

3. What does Livingston say one should do in a rising or falling market?

4. What kind of hunch does Livingston talk about in Chapter VI?

5. How does LIvingston sell off Union Pacific and why does he do it?

6. Why was Livingston banned from the bucket shops and what did the last one he bet at do?

7. What does Livingston discuss concerning stocks in Chapter V?

8. What does Livingston do with Roberts suggestion?

9. How did Livingston make a lot of money in cotton?

10. What does the trader Roberts suggest to Livingston?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

The young Livingston is fascinated by patterns in the tape and has an excellent memory for numbers. He is able to remember the patterns various stocks normally exhibit well enough to predict their behavior or notice if they act strangely. He records his predictions and compares them to the actual performance of the stocks. Livingston trusts his observations more than tips from others.

1. What would you say about Livingston as a person based on the above paragraph?

2. Livingston is 15-years-old when the book opens. Describe the characteristics you see in Livingston that you would consider typical for a 15 year old and the ones you consider more adult like.

3. Livingston from the brief description above seems like a very organized, possibly even obsessive individual. Discuss the ways you believe this type of personality might do well as a stock broker.

Essay Topic 2

Livingston, though still losing money, is making enough money to live on, which only delays the inevitable need to learn new trading techniques.

1. Explain why having enough money to live on would delay Livingston learning the stock broker trade.

2. If one has a natural talent for a musical instrument and can play it somewhat when first trying what do you think would be the equivalent for farther learning of the musical instrument if the situation was an analogy for the statement above?

3. If the above statement is true do you think it would mean mediocrity can get in the way of greatness? Why or why not?

Essay Topic 3

Livingston gives a number of his opinions on the stock market.

1. Discuss Livingston 's opinions of three topics. Do you agree or disagree with him? Why?

2. Compare and contrast Livingston's opinions from this book with what you might imagine he would think today in the 21st century. How do you think his opinions would change? Would remain the same? Explain fully.

3. Discuss how you think Livingston's view on several topics from this essay informs his life as a trader.

(see the answer keys)

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