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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. What does Livingston say financial news in the papers is?

2. When should one stay clear of a stock?

3. Why can bets be carefully timed in bucket shops?

4. Why is it harder for alternate exchanges to get rid of a customer?

5. Why does Livingston return to Boston?

Short Essay Questions

1. What do customers in bucket shops do?

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

3. What commodities has Livingston been trading and how is that going?

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

5. What does Livingston do with Roberts suggestion?

6. How long does Livingston stay in Boston and then what does he do?

7. What cotton trader does Livingston meet and what does he propose?

8. What commodities is Livingston trading and how is that going?

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

10. What happens when Livingston first comes back from St. Louis?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

He considers commodities down to earth and less prone to complex maneuvering than stocks. They are affected by supply and demand and conditions that don't affect stock as much.

1. Why do you think Livingston thinks the above statement is true? Use examples from the book to support your answer.

2. Having read the entire book do you think trading in commodities would be easier than in stock? Why or why not?

3. Given the differences in transportation and the wider global market do you think commodity trading has become more complex? Why or why not?

Essay Topic 2

Livingston gets a strong hunch and cannot shake the urge to sell Union Pacific stock.

1. Do you think it's unwise to sell stock based on a hunch? Why or why not?

2. Just because Livingston's hunch worked out this time do you think he should continue to use hunches? Why or why not?

3. Given the fact that more people have lost money on a hunch then made it, do you think Livingston should have written about hunches? Why or why not?

Essay Topic 3

Livingston has met and become friends and/or colleagues or discussed a number of notable people, many of whom he discusses in this book. Discuss he following:

1. Choose three people whom Livingston mentions positively and give a brief idea of his opinions about those three people (or stereotypes).

2. Choose three people whom Livingston mentions negatively and give a brief idea of his opinions about those three people (or stereotypes).

3. Judging what Livingston says about different people in his text, how would you characterize him as a friend? As a colleague?

(see the answer keys)

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