The End of Abraham Garmansky

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The October 1929 crash made Jesse Livermore one of the richest men in the world. It ruined Abraham Garmansky, perhaps taking his own life as many others did that day. But if you fast forward four years, these two men's story converge. They were both very good at getting wealthy and equally bad at staying wealthy.

Getting rich and staying rich are two different skills. They are often conflicting skills, so many people focus on one or the other.

But you need both to do well over time.

This episode tells a 100-year-old story of two investors, neither of whom knew each other, but whose fates converged during the same week in the 1920s.

It shows why a barbell personality of optimistic on one hand, and paranoid on the other, is vital to success.