According to @QCompounding, Jesse Livermore turned $10,000 into $500,000 by betting big on Northern Pacific Railway in 1901, source: @QCompounding. According to @QCompounding, he then shorted the market ahead of the 1907 panic and made $1,000,000 in a single day, source: @QCompounding. According to @QCompounding, JP Morgan asked him to stop shorting to calm market turmoil, source: @QCompounding. For traders, this case highlights how concentrated conviction trades in structurally stressed names and timely crisis shorts can produce asymmetric returns, a framework that also applies to high-volatility assets like crypto during liquidity panics, source: @QCompounding.