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The book Reminiscences of a Stock Operator is introduced, which tells the definitive story of the legendary Wall Street figure Jesse Livermore and his investment career. Livermore identified three fundamental rules for survival in the stock market.

First, there is never anything new on Wall Street because human nature never changes. You have to learn from history and your mistakes.

Second, the market is never wrong. You have to be friends with the trend and go with the flow.

Third, you have to be your own enemy and overcome human weaknesses. The author makes it clear that even experts can fail due to human weaknesses.

He also reminds readers that they must judge rationally and follow principles in order to gain a foothold in the market.