Jesse Lauriston Livermore, the Great Bear of Wall Street

June 26th marks the 135th birthday of Jesse Lauriston Livermore, the “Great Bear of Wall Street.” Known as one of the greatest traders of all time, Livermore’s life and career were a dedication to the study and mastery of stock and commodity movement and prices.

For Jesse, life began in rural Massachusetts where he was the child of a poor farmer, seemingly doomed to repeat the same fate as his father. At 14, with his mother’s blessing and her $5, he ran away from home to escape the hardship of life on a farm.

His stock market success started that same year in “bucket shops,” gambling halls where Livermore made over $1000 (over $20,000 by 2012 standards) placing bets on stock prices before he ever actually bought or sold a single share. Once he began trading in legitimate markets, Livermore both earned and lost millions upon millions of dollars.

Jesse Livermore is quoted as saying that his losses were the result of not listening to his own advice. At the height of his fortune, his worth was in the billions by today’s standards. Although his death was over 70 years ago, Livermore’s book, “How to Trade in Stocks,” is still listed among the top books ever written on finance and Wall Street.

The Dinner Table Bargain

On June 20, 1790 in New York City, US forefather Thomas Jefferson held one of the most significant and pivotal dinner parties of the century. In attendance were James Madison, Alexander Hamilton and then president, George Washington.

The discussion at hand involved both Hamilton’s longing to standardize the nation’s accounts including a federal assumption of all state debts, estimated at about $80 million, and James Madison’s concern over the potential final location of the nation’s capital. As a Virginian, Madison feared his state would lose influence if the capital were to be placed in the North.

Madison had openly fought Hamilton’s plan, so Jefferson offered to bring the men together to talk over the situation. Known as the Dinner Table Bargain, this meeting of the minds led to the Compromise of 1790. By the end of the evening, the men reached an agreement: Hamilton would support the Potomac site for the new capital and Madison would no longer block assumption in Congress.

Years later, Jefferson would claim that he had been tricked into the evening’s agreement by Hamilton. A blow that was surely softened when in 1801, he took office as the first president in the new city on the Potomac River known as Washington.

Happy Birthday Donald Trump!

You know the man, you know the empire, you know the hair …  but did you know that it was his birthday? This week on June 14, Donald J. Trump will turn 66 years old and he certainly has a lot of reasons to celebrate.

Born in 1946, in Queens, “The Donald” became a public figure as the result of his hugely successful career as a real estate developer in New York City during the late 70’s and 80’s. His building projects include the Grand Hyatt hotel on 42nd Street at Grand Central Terminal and the apartment-retail complex he built on New York’s Fifth Avenue, the iconic Trump Tower. 

Trump enjoyed unfathomable, well-publicized success for many years until a financial blow at his casino, the Taj Mahal, and a plummet in the real estate market in 1990, caused his net worth to drop drastically.

Not one to be beaten easily, Trump worked his way back and by the late 90’s got his net worth up into the multiple-billions. These days he enjoys a thriving career not only in real estate and development, but also in entertainment ventures such as producing beauty pageants, managing Central Park’s ice skating rinks and acting as a reality star on his own television show, The Celebrity Apprentice.

Summer in New York City

Summer in New York is such an exciting time. The days are long, the nights are cool and the city is bursting at the seams with exciting, fun outdoor activities to suit every taste imaginable.

If you’re in the city and looking for a way to celebrate the warm weather – may we suggest a Wall Street Walks tour? Not only is it amazing to stroll around the bustling streets of New York, you can visit the celebrated landmarks where America was born. Learn how an 18th century bazaar became the greatest financial center of the world. Walk in the footsteps of America’s forefathers and stand in the shadow of the rebirth of Ground Zero.

Another one of our favorite NY summertime activities is the River To River Festival held in locations across Lower Manhattan. Kicking off on June 17, the 2012 River To River Festival will host hundreds of events including live music, theater, dance and other cultural happenings through July 15.

This summer, treat yourself to a real downtown New York experience. Explore the rich and exciting history of the Wall Street Area then enjoy one of the great River To River Festival shows. Make a day of it … you’ll be glad you did!

75th Anniversary of the Death of John D. Rockefeller

This week marks the 75th anniversary of the death of John D. Rockefeller. Once known as the richest man in the world, Rockefeller gave over 500 million dollars to a variety of causes including education, science and religion institutions.

Born in Richford, New York, Rockefeller was an enterprising man who built his first oil refinery near Cleveland and incorporated Standard Oil Company when he was just 31 years old. His son, John D. Rockefeller, Jr., was his only heir and he carried on his father’s legacy of philanthropy.

In 1901 John D. Rockefeller, Jr. created Rockefeller University in NYC and during World War II, helped establish the USO for the troops. Later, Rockefeller Jr. personally funded the construction of Rockefeller Center, creating over 75,000 jobs during the depression, and establishing what is now a world-famous landmark in the center of midtown Manhattan.

Washington Inauguration

On April 30, 1789, just a few short weeks after the first United States Congress met at Federal Hall in to establish the first American government, George Washington stepped out onto an upstairs balcony and was sworn in as the first President of the United States.

Located in the heart of New York City’s financial district, Federal Hall is where America’s forefathers wrote the Bill of Rights and it served as a home for the Supreme Court and other city government offices until it was demolished in 1812.

The building that is now located on Wall Street was initially used as a Customs House but now is the home to Federal Hall National Memorial, a museum and memorial honoring the first President and the rich history of the United States.

Starting April 30 and lasting through May 2012, Federal Hall will be celebrating George Washington as well as the days when New York City was the national capital.

Broadway Festive as New Yorkers Celebrate Superbowl Champions NY Giants

  

It seems all of New York turned out yesterday for the ticker tape parade celebrating the New York Giants' Superbowl Championship. The crowd was thick with blue jerseys, and the kids threw toilet paper back and forth across Broadway as everybody waited for the parade to begin. Sidewalks on either side of Broadway were absolutely packed with Giants fans, starting south of the Wall Street Bull and headed north, all the way up the Canyon of Heroes to City Hall and Chambers Street.

Despite the huge turnout (reports say over one million people lined Broadway), the crowd was well-controlled. It seemed, for the most part, that everyone was happy to skip work for the morning and celebrate the hometown heroes. Eli Manning, Mayor Bloomberg and Governor Cuomo spent the morning riding on the same float headed uptown, hoisting the Vince Lombardi Trophy high for photos.

To see the rest of our images from the Giants ticker tape parade, click here.