The investment market has never lacked legendary figures. They leave behind lessons worth pondering repeatedly through a series of transactions that shake the history of finance—these insights span over a century and still guide a new generation of traders today.

Jesse Livermore is hailed as the king of speculation. This guy made a $3 million profit by short selling aggressively back in 1907. By the eve of the Great Depression in 1929, he had earned $100 million through precise judgments on the US stock market. This was the highest single-person trading record at the time. His secret was simple: follow the trend. Trend trading, key level breakthroughs, strict position control—this methodology was later written into "Reminiscences of a Stock Operator," becoming an enlightenment book for countless traders. But Livermore ultimately fell, going bankrupt multiple times due to excessive leverage and emotional outbursts, even choosing to end his life. Human greed and fear are often more dangerous than the market itself.

Next, look at George Soros. This master plays the macro hedge game. In 1992, he used the Quantum Fund to target the British pound, making about $1 billion in a single day, forcing the UK out of the European Exchange Rate Mechanism. His theory is called reflexivity—the market is not just cold, hard numbers but driven by human cognitive biases. His approach is to find "mispricings" in the market, place heavy leverage bets, but also leave an exit for downside risks. Recognize mistakes quickly, and cut losses decisively.

There are also predecessors like Bernard Baruch and William Gann... Each of their stories reminds us: the market is always testing human nature.