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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 when someone asks him for a tip?

2. What does Livingston think the purpose of split stocks is?

3. What does Livingston say about a drop in a stock price?

4. Who offers to buy Livingston's shares of Imperial Steel?

5. What does Livingston do after the Tropical Trading event?

Short Essay Questions

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

2. Why does Imperial Steel hire Livingston and why do they need him?

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

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

5. What happens when Livingston starts buying up what Imperial Steel stock is on the market.

6. What does Livingston say about broker letters?

7. What does Livingston do when insiders in Tropical Trading try to knock him out of the market?

8. How does Livingston feel about hunches?

9. What does Livingston say about selling stocks on a payment plan and stock splits?

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

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

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 2

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?

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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