Article on "Success. How Do You Measure it?" Jan. 1st. 2007 Watchtower

by Warlock 5 Replies latest jw friends

  • Warlock
    Warlock

    The article starts out with the example of Jesse Livermore, arguably, the greatest stockmarket trader in history. It goes on to say he wore the finest hand made suits, lived in a 29 room mansion, and had a chauffeur-driven Rolls Royce. In the 3rd paragraph, it talks about how, despite his wealth, his life was filled with heartbreak, tragedy, and sorrow. Eventually, Mr. Livermore committed suicide.

    Now, there are some things the article doesn't mention about Mr. Livermore. He was the son of a farmer. When he was 13 or 14 years old, his father pulled him out of school telling him that education was no good and he was going to have to start working on the farm. His mother, the smart lady that she was, told Jesse he was not going to be a farmer, gave him $5.00 and sent him to Boston.

    Jesse got a job at a 'bucket shop' (where the man on the street could go in and trade stocks), and his job was to put the prices of the stocks on the 'tote board' as they came across the tape. He was good in math, and what he started to notice was that stocks would fluctuate between certain prices and he began to keep a record of those prices and would test his theory without any money on the line. One day, another 'pee on' in the shop asked him if he wanted to make some money on a particular stock and Jesse checked his list. It looked like a good trade, so Jesse put up half. It was a good trade and Jesse got half the profits. He was now hooked.

    As he continued, he won and lost of course, but probably his greatest trade was making $100 million dollars in the crash of 1929, by selling or what is called 'shorting the market'. In fact, President Hoover sent an official to Mr. Livermore asking him to 'cover his shorts', or to buy back all the stock he had sold "for the good of the country", because the country might actually go completely bankrupt. Jesse did indeed start buying back all the stock the next day, saving the financial system from total collapse.

    So what is my point? My point is, the article has a negative slant towards wealth. The events in Mr. Livermore's life have happened to many, rich and poor alike. Like what? Divorce, problems with children, money problems, depression. Would you rather have these problems as a rich man, or a poor man, because you are probably going to have them anyway.

    For someone to have turned a $5.00 bill into $100 million dollars is a great accomplishment, even though he lost it all. His high points and low points in life coincided with whether he was winning or losing in the market, and that is the nature of the game. He himself knew it, and accepted it.

    There is a good book which details the life of Jesse Livermore written by Richard Smitten. It's a good read, and thank you for reading this.

    Warlock

  • BabaYaga
    BabaYaga

    Interesting, thanks, Warlock

    Baba

  • Warlock
    Warlock

    In the 4th paragraph of the article, they apply 1Tim.6:9,10 "Those who are determined to be rich...........have stabbed themselves all over with many pains".

    Now, is it Mr. Livermore's fault that he was good in math and used this God given gift to make money?

    That he just happened to be in the right place, at the right time?

    Would it have been better for him to stifle the gift and not use it to make a better life for himself?

    Is it such a bad thing to use your brain, instead of your body to make money?

    Warlock

  • frozen one
    frozen one

    "The article starts out with the example of Jesse Livermore, arguably, the greatest stockmarket trader in history. It goes on to say he wore the finest hand made suits, lived in a 29 room mansion, and had a chauffeur-driven Rolls Royce. In the 3rd paragraph, it talks about how, despite his wealth, his life was filled with heartbreak, tragedy, and sorrow. Eventually, Mr. Livermore committed suicide."

    Maybe one day an article will be published about Brother or Sister Pioneer who was one of the greatest pioneers in witless history until after years of living in poverty and living with undiagnosed/untreated depression and coming to the realization that everything they believed in was phoney they eventually committed suicide.

  • Warlock
    Warlock
    Maybe one day an article will be published about Brother or Sister Pioneer who was one of the greatest pioneers in witless history until after years of living in poverty and living with undiagnosed/untreated depression and coming to the realization that everything they believed in was phoney they eventually committed suicide.

    FO,

    I'm sure we all know of some who tried their very best, and still committed suicide. Maybe if some of their self-worth came from their being able to develop their special talent, instead of stifing it because of hearing "Armageddon is just around the corner", they would still be with us.

    Warlock

  • LongHairGal
    LongHairGal

    Speaking of suicides and depression - many years ago (late 70s or early 80s) I heard of JWs who tried suicide and ended up hospitalized. I also heard of an elder somewhere who committed suicide. I wondered why? Was it just chemical inbalance or something else?

    Maybe these people knew at some level that their beliefs were false and they couldn't live with the thought of wasted years that they could never get back.

    LHG

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