Part 4/8:
Not one to give up easily, Livermore clawed his way back to wealth during the tumultuous Panic of 1907, when he bet wisely against the market. Livermore gained notoriety as he profited massively during this crisis. He short-sold Union Pacific Railway right before a series of catastrophic economic events, making a staggering $250,000 after the market crashed. Despite the soaring numbers, Livermore received little public praise; instead, he was often villainized for his short-selling, which many viewed as profiting from misfortune.