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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 is one of the main problems of people paying you to do something on the market?

2. What happens after Livingston's initial action on behalf of Imperial Steel?

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

4. What does Livingston do to retaliate against the insiders?

5. What did coffee brokers tell Congress about Livingston?

Short Essay Questions

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

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

3. What does Jim Barnes ask of Livingston? How was Consolidated Stove formed?

4. What is one of the primary tools to manipulate a stock?

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

6. Sum up what Livingston says about cornering the market.

7. How does a trader test a stock?

8. How does Livingston feel about tips and to what does he attribute his success?

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

10. What does Livingston do when he returns to New York?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

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 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

Further, bankers beg Livingston not to sell any more stock, as it might increase the general panic, throwing the whole system into irrecoverable disarray. Livingston knows this would make it impossible for him to translate his profits into cash. Livingston sends in orders to buy a vast amount of stock, beginning a market recovery.

1. Given what you know of Livingston's character do you think buying stock in this situation was self motivated or was there an altruistic component? Why or why not?

2. Why do you think the bankers asked Livingston not to sell anymore stock? How would that relate to the creation of the 1930 depression? Use examples from the book to support your answer.

3. Do you think, given what happened in 1930, the market system could ever be thrown into irrecoverable disarray? Why or why not?

(see the answer keys)

This section contains 1,121 words (approx. 4 pages at 300 words per page) View a FREE sample