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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 do about his concerns in 1906?

2. In what does Livingston trade besides stocks?

3. What does Livingston say to do with anything showing a loss?

4. What did Livingston do about individual stocks?

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

Short Essay Questions

1. What does Livingston say again about the bucket shops and Wall Street?

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

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

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

5. What lesson does Livingston finally learn about markets?

6. Why does Livingston take so long to figure out the stock market and what happens then?

7. What does Livingston do with Roberts suggestion?

8. What happens in October of 1907?

9. What does Livingston say must be available in order to sell a stock and why?

10. What job did Livingston have when the book opened and how are stock quotes done?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Livingston is convinced his own knowledge, ideas, and hunches serve him better than any other other sources of information. He discusses the importance of being objective and neutral and not preferring a bear or bull market, but trading based on what conditions actually are.

1. How do you think Livingston being convinced about his ideas being better than other people's might help and harm him in trading? Use examples from the book to support your answer.

2. Why do you think a trader has to be objective? Use examples from the book to support your answer.

3. Discuss what you see as the conflict between playing hunches and being objective.

Essay Topic 2

Livingston says the important thing is to have a general strategy, stick to it, and use good information.

1. Why do you think it is important to have a general strategy in trading stocks? Give an example from the book.

2. Do you think it is difficult to stick to a plan when the plan is failing? Why or why not?

3. How difficult is it to get good information today? Do you believe what you read on the Internet? Why or why not?

Essay Topic 3

Livingston warns there are some things no speculator can guard against. No trader can account for all the factors that affect a trade.

1. Given the uncertainty in the numerous factors involved in stock trading why do you think people do it?

2. What other careers have such uncertainty to them? Describe in detail why.

3. Do you think life is better uncertain or not? Why?

(see the answer keys)

This section contains 949 words (approx. 4 pages at 300 words per page) View a FREE sample