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Where Are the Customers' Yachts?

or A Good Hard Look at Wall Street

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Where Are the Customers' Yachts?

By: Fred Schwed Jr., Peter Arno
Narrated by: Mark Moseley
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About this listen

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.

©1940, 1955, 1995, 2006 Fred Schwed, Jr. / Foreword ©1995 by John Wiley & Sons, Inc. / Introduction ©2006 by Jason Zweig (P)2012 Audible, Inc. Personal Finance

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Profile Image for Jason Weeks

A must for all those interested in markets

Some things never change.
Cycles come and go, this book however, will give you a huge insight into what not to do based on some of the most turbulent market times in the history of modern markets.
Read!

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Profile Image for Jake

Very relevant today

Great insight from the 30's and have shifted my perspective of what I invest in opposed to speculate in

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looking at the past for the future

in 2024 this book still works and made me giggle that the things he spoke of beck some 60 years ago have not changed.

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