1929-stock Books

A story of struggle and friendships grown out of hardships. A good, kind read.

I thoroughly enjoyed this book. The characters are well developed and the story builds to an interesting climax. This is only the second book that I've read by Anita Shreve, but it will definitely not be my last. She has a wonderful way of grabbing your attention at the start and keeping you interested throughout. Can't wait to read another.

Set in the early depression era on the East Coast, the novel follows Honora and Sexton Beecher from the beginning of their marriage. They moved into a large deserted old house on the beach and threw themselves into making it habitable with mostly sweat equity and little money. Sexton is away every week because of his job as travelling salesman and Honora lives a quiet but very structured life. She walks frequently on the lonely beach and collects colorful bits of sea glass.

When the owner decides to sell the home, Sexton manages to scrape together enough for the down payment and takes a mortgage at the local bank. Unfortunately, it's at the worst possible time as banks are starting to collapse and many are losing their jobs.

The story follows the arc of their relationship from good times to bad and explores the discoveries they make about each other as a result of their travails. Part of the subtext of the story is revealed through homey letters from Honora's mother. Sexton becomes involved with a group of men fomenting a strike at the local textile mills. Their home becomes the headquarters of the organizers, bringing them into the center of a dangerous and controversial movement.

The historical context of the novel was interesting, but what was most compelling was Anita Shreve's ability to create a fully imagined, complex, sympathetic character - Honora Sexton. I could imagine myself living in her time and faced with the same challenges. It's not always possible to "associate" yourself so completely with a fictional character, but Anita Shreve's skill make it possible.

The thing I liked most about this book was the overall atmosphere that the author created. It was extremely evocative of a time and place in US history (early labor strikes in New England textile industry). The characters and actual physical setting of the story are so well drawn that you feel like you have actually been there and know them.

In my opinion, Anita Shreve has a unique talent for melding interesting and unique events, places and personalities together to form a memorable and highly moving story that makes you come back for more.

The IDEA of Honora and Sexton's story gripped me. Two people who don't know each other very well fall for each other, get married very quickly, and then their marriage suffers from the blows life throws at them. The issue I had with their characters was that Honora seemed too perfect--good cook, great housekeeper, cares for her husband--and Sexton seemed too flawed--greasy salesman type, keeps important secrets from his wife, eventually even cheats on her. In my opinion, Ms. Shreve's characters aren't usually so perfectly defined as "good" and "evil"--and that's what I've always liked about her novels.

The novel itself, set on the cusp of the Great Depression and focusing on three completely different classes--Vivian as the upper class, Honora and Sexton as the middle class, and McDermott and Alphonse as the mill-worker lower class--seemed as if it was just trying to cover too much too fast, leaving it disjointed, and leaving me feeling as if the plot as a whole never came together.

The only thing that seemed steady in this novel as compared to Ms. Shreve's other endeavors was her style of writing, which, as always, gripped me. The fact that I am a huge fan of how she writes is, however, the only reason I could give this novel 3 stars.

I learned some things from this book, but it does amble on like a boring textbook sometimes. The stories of the the families were very interesting. My great-grandma's cows in N.E. SD ate cockleburs during the depression, and trying to hit water during a well drill was distressing.

It is a very high level description on the 1929 crash.

One thing which I did notice which is very misleading, it clearly states that, "For all of his uncanny instincts, however, Jesse Livermore was no match for the Stock Market Crash of 1929. He lost everything." (see page 37). Also includes a photo of Livermore.

For those who are a true Livermore follower, you will know that this is not correct. Contrary to this from the book, he actually made $100 million during the crash of 1929, by selling short.

For more information on Livermore visit jesselivermore dot com.

I am hoping that there will be a second edition of this book which will have this information corrected.

This a mildly interesting memoir of the period right after the crash but it is quite light on material. You get a feel for th time and the author discusses a few of his trades and tells a few anecdotes but there is no earthshattering wisdom imparted. It won't hurt to read but you will find youself a litle disappointed by it's brevity. I would have enjoyed it more if there were more war stories but clearly the period was not period of active trading particularly if you had a small account as the author started out with. If you're trader you can glean something from any true experieince and this is no different. So if you want to spend the money and are willing to spend the 20 minutes to read then go ahead otherwise read Reminiscences of a Stock Operator or Market Wizards etc.