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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. Why does Livingston declare bankruptcy?

2. What does Livingston say a good broker letter should be?

3. In what kind of shape is Imperial Steel?

4. What does Livingston say he has to do with a strong urge?

5. What does he think his debts are doing to his trading?

Short Essay Questions

1. What does Livingston say about the press and insider trading?

2. How does a trader test a stock?

3. What does Livingston warn about various conditions that affect the market?

4. What does Livingston say about forces that can cause plans to go wrong?

5. Is Livingston asked for tips? What does he say?

6. What does Livingston notice about the price of Tropical Trading and what does he do about it?

7. What happens to Livingston after he follows Percy's advice?

8. What does Livingston say about broker letters?

9. What does Livingston say when people say a stock drops because someone sells it?

10. How does Livingston think James R. Keene would do in the market of Livingston's era.

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Livingston is flat broke and becomes ill. He goes to Chicago to recover. He wonders how he made so many mistakes. He goes back to New York.

1. What do you think the typical person would do if she/he were in Livingston's position?

2. Why do you think Livingston has continued to make mistakes in his trading? Use examples from the book to support your answer.

3. Given that Livingston is flat broke yet again, still he returns to New York. Why do you think Livingston keeps trying?

Essay Topic 2

Eventually the three men who own so much of the stock get angry with him for not raising the price and selling their stock, too. Livingston considers there is never any point in getting angry at the market.

1. Why do you think the men were angry at Livingston? Use examples from the book to support your answer.

2. Do you think what Livingston did with Consolidated Stove was immoral? Why or why not? Use examples from the book to support your answer.

3. Why do you think Livingston says there's no point in getting angry at the market? Use examples from the book to support your answer.

Essay Topic 3

The book, REMINISCENCES OF A STOCK OPERATOR, is considered a classic in business education and is required reading in most business colleges.

1. Why do you think the above statement is true?

2. After reading REMINISCENCES OF A STOCK OPERATOR do you think you understand more of the stock market and the economy than before you read it? Why or why not?

3. Do you think it is too outdated to be of any use to students today? Why or why not?

(see the answer keys)

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