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

Humorous and entertaining, this book exposes the folly and hypocrisy of Wall Street. The title refers to a story about a visitor to New York who admired the yachts of the bankers and brokers. Naively, he asked where all the customers' yachts were? Of course, none of the customers could afford yachts, even though they dutifully followed the advice of their bankers and brokers. Full of 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.

Sixty years old, and as accurate as ever. For everyone who thinks that technical analysis is gospel, for everyone who thinks high mutual fund fees are worth it, for everyone who complains that the "market makers" are manipulating the stock market, and most of all, for anyone who thinks that recent stock market events are unprecedented, you need this book! Schwed skewers classic Wall St archetypes that haven't changed a bit since 1940. It's a fun, funny read

Even if you've never had any personal experience with Wall Street, the Chicago Board of Trade or anything else in between, if you'd like a very, very funny read I recommend this book. If you *do* have investment experience you'll find it even funnier.

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If you're going to be taking the Paoli local into town anytime soon, look for the copy Scott left on the bench on his way to Starbuck's. I promise you if read with a sense of humour you'll be howling with laughter before you get to Daylesford!

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Info For Where Are the Customers' Yachts: or A Good Hard Look at Wall Street

• Paperback: 208 pages ( Download PDF : )


• Author: Fred Schwed


• ISBN-10: 0471770892


• ISBN-13: 978-0471770893


• Publisher: Wiley; 1 edition (January 10, 2006)


• Language: English


• Product Dimensions: 5.5 x 0.6 x 8.5 inches

About the Author

Fred Schwed Jr. was a professional trader who got out of the market after losing a bundle in the 1929 stock market crash. Years later, he published a bestselling children's book entitled Wacky, the Small Boy, and then went on to write Where Are the Customers' Yachts?

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