Word: trader
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Dates: during 1940-1940
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Gillham made friends with Angus Gavin, a Hudson's Bay Co. trader, and whipped up in Gavin a hot excitement for the search. Gavin had himself transferred to the Perry River post. Some Canadian sportsmen and bird-lovers proselytized Gavin's boss, who authorized and financed an expedition. Gavin and a friend set out with a 16-ft. sled carrying supplies and an 18-ft. canoe. They sledged five miles up the river, then reached open water and took to the canoe. Fifteen miles farther up they came to an unnamed, uncharted lake, dotted with small islands...
...rest of the evening Jesse Lauriston Livermore, most fabulous living U. S. stock trader, sat brooding at his table while his wife danced with friends. It was just three years short of half a century since he had made his first play in the market-a $3.12 profit on Burlington Railroad common. He was 15 then, a board boy in Boston's Paine, Webber & Co. They told him to stay out of the bucket shops or quit his job. He quit. A towheaded greenhorn from West Acton, Mass., son of a poor Yankee farmer, he began beating the bucket...
After the war, Trader Livermore was hired to push Piggly Wiggly stock. He pushed it 52 points in a single day and cornered the market; the Stock Exchange had to set aside its rules and allow shorts five days to cover. In the 1925 wheat market ending with the Black Friday crash he bought grain in 5,000,000-bushel lots while the market was rising, turned bear at the top and sold 50,000,000 bushels short for an approximate profit of $10,000,000. Quietly sensing the end of a falling market in 1927, he bought Mexican Petroleum...
When the Coolidge market broke, there were angry stories that Trader Livermore had smashed it. It had, in fact, smashed him. He was short 20,000, long 80,000 shares. Three years later his second wife divorced him and married a onetime Prohibition agent. Later, to satisfy her debts, he sold his $1,350,000 estate at Great Neck, L. I. for $169,000. For his third wife, he took an Omaha, Neb. brewer's daughter, Mrs. Harriet Metz Noble, in 1933. A year later he was in bankruptcy -his fourth...
...operators of his type. Through all his market days he had never been a real market insider. He never learned that sometimes it was better to take stock than cash, better to get stock control of a business to tide a man over his old age. He was a trader, a gambler-one of the sharpest. When, last spring, he put his system down on paper and reopened his office to trade on commission for customers, it was a sign that he was through. No man who could make money for himself ever told the public...