Story · Wall Street
Transcript: The trader who made $100mn from the 1929 crash — only to lose it all
This is a transcript of the Financial Times podcast 'The Story of Money', hosted by Robin Wigglesworth, with guest Robert Armstrong. They discuss the life of legendary trader Jesse Livermore, who made $100 million (equivalent to $1.5 billion today, or $30 billion relative to the US economy) by shorting the market during the 1929 Great Crash. Livermore, a farm boy from Massachusetts who became a Wall Street icon and inspired F. Scott Fitzgerald's Jay Gatsby, is known for his trading acumen and his ability to learn from mistakes. The conversation highlights his rise to immense wealth and his catastrophic fall, drawing lessons from his life and the book 'Reminiscences of a Stock Operator'.
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