The Making of a Stockbroker (Book Review)

The Making of a Stockbroker (Book Review)

The Making of a Stockbroker by Edwin Lefevre

The Making of a Stockbroker, by Edwin Lefevre, was first published in 1925. And it’s the story of John Wing… who said (in his own words)… “I hate to talk of myself, but I want you to get the broker’s business as it really is.”

And that pretty much sums it up! The Making of a Stockbroker, is John Wing’s step-by-step rise to the top of a prominent Wall Street investment bank. It sounds simple. But it’s a book I really enjoyed. And I think you will too. So…

In this book review I will explain to you the best parts of The Making of a Stockbroker. I’ll also try to cover what the book doesn’t cover. Finally I’ll shed some light on why the truisms in this book are still relevant today (almost 100 years after publishing)! So without further ado…

Here’s Why You Should Read “The Making of a Stockbroker:”

The Making of a Stockbroker is a time-tested tale of Wall Street success. Just the very fact that it was published over 90 years ago by Edwin Lefevre means it should be on your book shelf. This is classic Wall Street literature. But you probably already knew that. So let me tell you a little more about The Making of a Stockbroker:

The story begins with the early years of John Wing’s life,  follows him through his education at Harvard until he eventually becomes the senior partner at Bronson & Barnes – a most prestigious investment brokerage. Of course there are trying hardships and inspiring successes along Mr. Wing’s rise to the top. But I don’t want to give the whole story away for you. Because in this book, the beauty is truly in the details. Really…

Lefevre goes into a healthy (but not boring) amount of description in all the most exciting deals that are outlined in The Making of a Stockbroker… especially those responsible for catapulting John Wing upwards on his career path. One more thing I liked about The Making of a Stockbroker is… While the whole book is incredibly well-written (since Edwin Lefevre was an adept financial journalist in his time), the way the story flows is surprising. At first glance, the career of an investment banker might not sound that interesting to you. But…

For those readers who are interested in learning how they too can climb the corporate ladder of Wall Street, this is a “do it yourself” read like no other. And that reminds me, there is one thing Making of a Stockbroker really does well. Do you want me to share it with you?

What “The Making of a Stockbroker” Teaches Best:

As you can probably tell, there are a lot of things I like about The Making of a Stockbroker. But there is one aspect of the book that strikes me most of all. And it’s especially relevant when you think about Edwin Lefevre’s other book (Reminiscences of a Stock Operator)…

You see while the character portrayed in Reminiscences (Larry Livingston) ends up being successful, his methods seem a little more speculative. In fact, Larry admits that he must be disciplined because his trading in stocks is only slightly removed from gambling. On the other hand… The thing I like best about The Making of a Stockbroker is how it lays out common sense things that you can easily do to succeed in your career. This book really helps you re-create Mr. Wing’s success in your own life (and in whatever career path you end up taking).

Where Larry Livingston lost all his money a number of times because of trades gone wrong, John Wing continued to build wealth through his entire life. And while you can learn a lot from both books, the latter scenario resonates more with me as one I would want to replicate. But before you think I’m too biased about this book, let me tell you what The Making of a Stockbroker leaves out.

Here’s What “The Making of a Stockbroker” Doesn’t Cover:

Although The Making of a Stockbroker is an incredible book that accurately describes how ambitious young people have thrived on Wall Street, it doesn’t give you everything on a silver platter. I want to make it clear that this book doesn’t give you exact scripts you can use to get customers as a stockbroker. It’s far more valuable.

Instead of tactics you can use (and which would probably be obsolete by now), this book gives you the time-tested fundamentals of business success. You can use the contents of this book to help you form the right habits. And that’s what will serve you for a lifetime. Mr. Wing seems to live by principals akin to those Napoleon Hill advocates. And so that should tell you…

This book is not going to automatically provide you with a thriving brokerage firm on a silver platter. But The Making of a Stockbroker will go a long way in educating you how to earn success on Wall Street.  And really, could you ask for anything more?

“The Making of a Stockbroker” – The Final Word:

I  hope this book review has given you a good idea of what you can expect when reading The Making of a Stockbroker. But you should definitely check out the Amazon reviews for yourself and see if this is a book for you.

Personally, I can wholeheartedly recommend this book as an excellent read for anyone actively interested in a career in investing. What do you really have to lose?

The Making of a Stockbroker Details and Video Book Review

Author: Edwin Lefevre Pages: 341 Publisher: Fraser Pub Co

Other Books By Edwin Lefevre:

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