Jubilee Prosperity

The only people making money in sideways trend-less markets were those buying dips and selling rallies for smaller profits.

JL lost almost $3 million on a big cotton trade following someone else’s advice and averaging down.

JL lost $5 million on a coffee trade during World War I, when the Exchange Governors and newspapers accused him of war profiteering and canceled the trade, keeping the profits.

After his third loss of fortune and bankruptcy, with two sons, JL promised his wife he would put part of his gains into annuities for his family.

JL made $100 million in the Crash of 1929 and set aside $5 million for his family.

Those sums are equivalent to $1.24 Billion and $62 million today.

http://www.westegg.com/inflation/

Mr Livermore found it as hard as anyone else emotionally, to go against the grain and gristmill of compelling crushing mass psychology.

In the 1930s, with the Great Depression becoming recognized for what it was, and the market going nowhere, JL became anxious and depressed.

His second wife Dorothy was a beautiful Ziegfield Follies showgirl he married when his fortunes began to improve and he could afford yachts and mansions around the world.

He took a European cruise with Dorothy to get away and relax, but it did not work.

She went to Reno with another man, divorced JL at the bottom of the markets in 1932, and took away his only sons.

JL married on the rebound in 1933 and became clinically depressed.

Perhaps he knew he was his third wife’s fifth marriage, and all four of her previous husbands had committed suicide.

JL broke the rule he joked about the most:

Always sell down to the sleeping point.

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