It's never that easy...

Was reading the first page of Richard Smitten's book on Jesse Livermore and i thought its quite scary and sad that these men who have make it big in the stock market will end up in such manner one will never tot of... Its really never easy to make money in stocks repeatedly.

In 1923, seven men who had made it to the top of the financial success pyramid met together at the Edegewater Hotel in Chicago. Collectively, they controlled more wealth than the entire United States Treasury, and for years the media had held them up as examples of success.

Who were they? Charles Schwab, president of the world's largest steel company, Arthur Cutten, the greatest wheat speculator of his day, Richard Whitney, president of the New York Stock Exchange, Albert Fall, a member of the President;s Cabinet, Jesse Livermore, the greatest bear on Wall Street, Leon Fraser, president of the international Bank of Settlement, and Ivan Kruegger, the head of the world's largest monopoly.

What happened to them? Schwab and Cutten both died broke; Whiney spend years of his life in Sing Sing penitentiary; Fall also spend years in prison, but was released so he could die at home; and the others Livermore, Fraser and Kruegger, committed suicide.
(Donald McCullogh, Waking from the American Dream)

Reminds me of a short conversation on msn with my friend:

F: Yo, big time 'tai tai', what ya been doing? ( Society can't really accept one is not working and if you are not working, is either you strike a lottery, you are loaded or you are just a plain bummer. Here, my friend is being nice, calling me 'tai tai' instead of bummer.)

Me: Eat & Sleep

F: I think when the Casino is up, you can be a full time gambler.

Me: I think i don't really like that.

F: I heard from XXX you play stocks, full time trader is it? Come leh, give some tips. You must be doing well. (Damn..)

Me: Well..Am not a full time trader and definitely not doing well, and if really seems so easy, i could have bought a house at Nassim.

F: You should attend the Adam Khoo's partner, Conrad's seminar. He been doing very well in option trading.

Me: If do so well, why still need to organise and get people to join?

F: He showed all his trades in his blog.

Me: Can also not show those trades that lose $ right? It's never that easy lar...

F: Maybe, but if can earn a few thousands every month in trading also good wat.

Me: Ha... (Strangely, people always remembers how and who win loads of money but cant really remember how and who lose loads of money)