Jesse Livermore
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Jesse Lauriston Livermore was an American stock trader. He is considered a pioneer of day trading and was the basis for the main character of Reminiscences of a Stock Operator, a best-selling book by
Livermore in 1940
Livermore, c. 1923
Bucket shop (stock market)
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A bucket shop is a business that allows gambling based on the prices of stocks or commodities. A 1906 U.S. Supreme Court ruling defined a bucket shop as "an establishment, nominally for the transactio
Jesse Livermore
…age of 15, Livermore made his first profit off the stock market when he bet on five shares of the Chicago, Burlington and Quincy Railroad for $5 at a bucket shop. A bucket shop did not buy or sell the stock, but instead took bets on whether a particular stock's prices would rise or fall. Livermore’s bet returned…
A scene from a bucket shop in 1892.
A scene from Through Hell with Hiprah Hunt, Art Young's 1901 retelling of Dante's Inferno: "Peering down the jaws of a deep pit he sees the souls of the bucket-shop gamblers."