Sampson Rock of Wall Street

It's time to sharpen my saw. I will be taking a few days off going to read a book that I just got hold recently. Will let you all know what I think after completed the book. I hope this is as exciting as the Reminiscences of a Stock Operator by the same author Edwin Lefevre.

Sampson Rock of Wall Street tells the story of stock market manipulations made by a railroad tycoon as he wheels and deals his way into wealth. His scheme to increase his already vast wealth of holdings by depressing the stock in one of his properties becomes known to his son who then sets out to seize control of the railroad himself. A true classic, this timeless tale of stock market games and the machinations of a master market manipulator is as relevant today as it was a century ago.

The book's Introduction, written by bestselling author William Bernstein, contributes many insights and context including the following: “Financial loss has many parents: inadequate quantitative ability, overconfidence, underestimation of risk tolerance, ignorance about the knowledge and competence of those on the other side of your trades, and the granddaddy of them all, unawareness of financial history. Sampson Rock will teach you about all of them.”

I still have another book, 838 pages thick on my book shelf to digest -- The snowball-- by Alice Schroeder.

“The Snowball” (with a title that refers to Mr. Buffet’s way of making things get bigger and bigger) tracks his financial coups without becoming a string of “and then he bought ...” stories. Part of the book’s liveliness comes from the feisty, penny-pinching characters with whom Mr. Buffett liked to lock horns. The story of Mr. Buffett’s business rise is also a social climb of sorts, despite his cultivated folksy air. The book details his eyebrow-raising friendship with Katharine Graham of The Washington Post, an anomalous liaison since he claims that Daisy Mae of the “Li’l Abner” comics was his feminine ideal. In any case, Mr. Buffett required a constant supply of hamburgers and motherly care. He surrounded himself with Susie, a surrogate wife (Astrid Menks, whom he later married) and a close circle of other women.

With me going to a mountain to rejuvenate, my postings could be very minimum unless there are extremely market moving stuffs. Take care!