Where Are the Customers’ Yachts?: or A Good Hard Look at Wall Street Fred Schwed Jr. was a professional trader who got out of the market after losing a. Where are the Customers’ Yachts?: Or a Good Hard Look at Wall Street (Wiley Investment Classics) 1st Edition (English, Paperback, Fred Schwed, Marketplace . Where Are the Customers’ Yachts?: Or a Good Hard by. Fred Schwed Jr., Covers the gamut of financial players and the clients who bring them business.

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Schwed describes, tongue firmly in cheek, the possible mechanisms and joys of options trading. Like any industry, there are competents and inepts; those with integrity and the dishonest; folks who are out to serve their customers and those that are out for themselves.

One man seeing the same thing cusyomers this man it’s usually a man frev asked the question we all ought to have asked: Then when they show a profit I sell them, exultantly. From Disney to Churchill.

Full ae wise contrarian advice and offering a true look at the world of investing, in which brokers get rich while their customers go broke, this book continues to open the eyes of investors to the reality of Wall Street.

Although written 75 years ago, applies very well today.

Where Are the Customers’ Yachts?: Or a Good Hard Look at Wall Street by Fred Schwed Jr.

Glad you liked it. A humorous look at the people, practices and myths that make up the investment business.


I have no idea what that means. In fact the more nascent or open to learning the better because this book is a great foundation for how investing should be understood and executed. If one of them has to be disappointed, it’s bound to be the former. Feb 11, SallyStenger added it. No speculators will beat the market forever. May 02, Ned rated it it was ok. Jul 21, Julian Bu rated it really liked it. Trivia About Where Are the Cus Jan 13, Hanno rated it it was amazing Shelves: A good combination of super-funny, yzchts also true ffred useful.

It’s an insightful and witty read as promised. Naively, he asked where all the customers’ yachts were?

Where Are the Customers’ Yachts?: Or a Good Hard Look at Wall Street

It is especially funny to see that almost all of this folly, 73 years later, is still all around us with the addition of some other new ones. Constantly funny in an intellectual and dry wit. Warren Buffet and the yacuts of life. Where Are the Customers’ Yachts: Like with most topical mockery, appreciation probably scales with previous exposure. Good reminder that in whatever has to do with money, the lunacy remains and history repeat itself.

There are no discussion topics on this book yet. Story on buying stocks witch dividend and sell them only when they go down. For some reason the subtle humor of the The Liberty Bar calendar never gets old for me.

This book has not been successful if it has not suggested some big-league problems, such as: He published this infollowing his experience on Wall Street in the s and s, but you know what? Apr 07, Mahesh rated it really liked it. Which should be pretty much anyone both on the inside and on the outside. A professional trader, who had the good sense to get out after losing a bundle of money in the yacht, offers wry and astute observations on Wall Street along with bottom-line wisdom.


Oct 30, Ace rated it it was amazing.

Overall, an excellent read, and well worth the money. Maybe we should treat it like everything else that we are good at – something that captures our interest and doesn’t scare us. Thanks for telling us about the problem. It is a wonderfully funny, rather cynical read all the way through, something I think anyone can enjoy.

Experts such as, statisticians, partners or even thinkers offer ostentatious profundity, sometimes even self-deceiving. The title refers to a story about a visitor to New York who admired the yachts of the bankers and brokers. We read useful other thoughts, couched in humorous self-deprecation. As ths financial author myse Schwed covers some important ground in what may be one of the most important books ever written about Wall Street; the craziness of financial predictions, the desperate nature of stock brokers today known as “financial advisorsthe psychotic tendencies of the investing public, and capitalism – that old hag.