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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Okay, finally received it from Amazon and finished it last night. Of course, none of the customers could afford yachts, even though they dutifully followed the advice of their bankers and brokers.

Where Are the Customers’ Yachts?: or A Good Hard Look at Wall Street

Good reminder that in whatever has to do with money, the lunacy remains and history repeat itself. I think that is one of the purposes with humor and satire – helping improve ourselves. Paperbackpages. No speculators will beat the market forever.

It is a wonderfully funny, rather cynical read all the way through, something I think anyone can enjoy. Kahneman or Michael Lewis don’t feel at all original.


Book Review: Where Are The Customers’ Yachts | Bankers Anonymous

All time investment classic. However, it is possible that Wall Street has more than its fair share of the negatives, given the belief that big money is attainable without the years of study or the incredibly hard work that is required of any successful professional.

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. Regardless, the author does a great job of explaining terms and making all of the 3 page yhe pretty digestible.

Fred Schwed

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. I have no idea what that means. May 02, Ned rated it it was ok.

Read this and put your feet firmly on the ground. On the pessimistic note, the win-loss situation turns to be coin flips. Ugh, no excuse for me.

As my close personal friend Steve Martin says, the French have a different word for practically everything. Feb 11, SallyStenger added it. We read useful rhe thoughts, couched in humorous self-deprecation. His take on investment trusts now known as mutual funds is spot on for then and even now. May 04, Rolling Ideas rated it it was amazing Shelves: I am guessing it was much easier for people to obtain margin accounts at that time, because people trying to use margin to juice their earnings is one of his biggest criticisms.


Aug 03, Rishi Prakash rated it liked it. Easily the best explanation of the dynamic between financial services professionals and their customers.

Maybe we should treat it like everything else that we are good at – something that captures our interest and doesn’t scare us. Nothing has changed on Wall Street, it’s still a casino. A classic, in that is was written ina timeless classic in that is still rings solid and true.

If you don’t you’ll end up doing nothing but making your broker happy. Read this awesome book. It would be funny if it weren’t so sad.

Added to Your Shopping Cart. Schwed satirically punctures our deeply-held myths in a totally goofy way.

Mar 23, Godfrey rated it really liked it. Where Are the Customers’ Yachts?: