"Reminiscences of a Stock Operator" is a 1923 novel by Edwin Lefèvre, inspired by the life of stock trader Jesse Livermore. The book is divided into three parts, covering Livermore's experiences from 1890 to the 1920s. In the first part, Livermore takes advantage of the bid-ask spread on inactive stocks with high leverage. In the second part, he becomes a stock trader on the New York Stock Exchange, experiencing both success and failure due to his use of high leverage. In the