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Jesse Livermore: $100M 1929 Crash Trader

Financial Times Companies •
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The Financial Times’ “The Story of Money” podcast devotes an episode to the life of Jesse Livermore, the legendary day trader who famously shorted the 1929 Wall Street crash and pocketed $100 mn before eventually losing everything.

Livermore’s early exploits were dramatized in Edwin Lefèvre’s 1923 roman à clef *Reminiscences of a Stock Operator*, a book that still shapes trader psychology today. Hosts Robin Wigglesworth and FT US financial commentator Robert Armstrong trace his meteoric rises and catastrophic falls, highlighting how market euphoria can turn into ruin.

The discussion also touches on Livermore’s mental‑health struggles, noting the episode includes a content warning for suicide. Producers Lulu Smyth and Michela Tindera, with executive producer Manuela Saragosa, frame the narrative as both a celebration of speculative brilliance and a cautionary tale for modern investors.

Further reading suggestions include Andrew Ross Sorkin’s 2025 history of the crash and the original Lefèvre text. The episode is available on the FT podcast feed and the show’s YouTube channel, with a full transcript on FT.com.