Marketing Plan Biography
The popular book Reminiscences of a Stock Operator, by Edwin Lefèvre, reflects on many of those lessons. Livermore himself wrote a less widely read book, "How to trade in stocks; the Livermore formula for combining time element and price". It was published in 1940, the same year he committed suicide. There is some speculation that this partnership between the two men was not their first collaboration. Since Lefèvre was a writer and journalist, it is thought that he was one of the friendly newspapermen that Livermore employed for both information and planted articlesLivermore first became famous after the Panic of 1907 when he sold the market short as it crashed. He noticed conditions where a lack of capital existed to buy stock. Accordingly, he predicted that there would be a sharp drop in prices when many speculators were simultaneously forced to sell by margin calls and a lack of credit. With the lack of capital, there would be no buyers in sight to absorb the sold stock, further driving down prices. After the crash and its aftermath, he was worth $3 million.
He proceeded to lose 90% of that 1907 fortune on a blown cotton trade. He violated many of his key rules; he listened to another person's advice (he preferred working alone) and added to a losing position. He continued losing money in the flat markets from 1908–1912. He was $1 million in debt and declared bankruptcy. He proceeded to regain his fortune and repay his creditors during the World War I bull market and resulting downtrend.
He owned a series of mansions around the world, each fully staffed with servants, a fleet of limousines, and a steel-hulled yacht for trips to Europe. He married his second wife, Dorothy, a beautiful Ziegfeld Follies showgirl, on December 2, 1918, when he was 41 and she was 18.[6]
Livermore continued to make money in the bull markets of the 1920s. In 1929, he noticed market conditions similar to that of the 1907 market. He began shorting various stocks and adding to his positions, and they kept declining in price. When just about everyone in the markets lost money in the Wall Street crash of 1929, Livermore was worth $100 million after his short-selling profits..He hired an author (via elance.com) to write a "Teach your parrot to talk" book. After doing some keyword research he discovered that the market was big. He also heard of a guy who was doing the same thing profitably offline so he wrote the ad in advance, promising everything a parrot owner could want. Then he hired a writer from eLance, to fulfill all those promises (and point out the unrealistic ones).
It cost him $650 to hire the writer. (Note: Most newbies would balk at spending $650 before making a dime on that product they were building. Mindset matters.) Frank built a $3,000/month income stream from this eBook alone.
He then said to himself: "What other pets are out there?"
Frank had worked with dogs in the past, and realized that dogs respond well to positive reinforcement. So he created a course, where he could automatically create a different web site for every diff breed of dog (600). He ran ads for each breed of dog, offering the same book with 600 different web sites - one per dog breed. This business launched in 2005 and went on to make sales of over $1 million in 2006. A simple approach, that scaled up exponentially.
He found that he really enjoyed showing other entrepreneurs how to make money online so he sold the dog business after 2 years, and focused on teaching people to make money online. Frank regularly holds live seminars where he commands up to $25,000 per ticket. He also continues to use video marketing to capitalise on his "guru" status in internet marketing circles.
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