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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The investor’s need to believe somebody is matched by the financial advisor’s need to make a nice living. While the faces behind Wall Street have changed, the lunacy remains.
Schwed satirically punctures our deeply-held myths in a totally goofy way. Just a moment while we sign you in to your Goodreads account. Read this awesome book. A professional trader, who had the good sense to get out after losing a bundle of money in the crash, offers wry and astute observations on Wall Street along with bottom-line wisdom. It works for me. Jul 21, Julian Bu rated it really liked it. The book is by no means a manual for prospective investors, but more like an enjoyable account of all the financial folly frev goes on around us.
Only the names have been changed to protect the innocent. Sep 21, Terry Koressel rated it it was ok. I heard about this little book in Alice’s Schroeder The Snowball: Covers the gamut of financial players and the clients who bring them business.
Where Are the Customers’ Yachts?: Or a Good Hard Look at Wall Street by Fred Schwed Jr.
Even if you don’t have a cusgomers interest in investing or personal finance this book is a must read because all people are or ought to be investing. Cstomers loves a specialist Horizons and limits of regulation Inconclusions About the Author Lists whers This Book. In the words of Peter Lynch, “if the only reason you can give when buying a stock is that the suck I heard about this little book in Alice’s Schroeder The Snowball: If one of them has to be disappointed, it’s bound to be the former.
Design by Sweb Development. Feb 02, Dina rated it it was amazing. Sometimes I really hope Schwed’s wrong. Quoted by Malkiel, I thought I would read this. Quick fun read that gives you a lot of power per page. Aug 03, Rishi Prakash rated it liked it. Yet this old book is plenty wise. Mar 02, Mat rated it liked it.
I have no idea what that means. There are thhe discussion topics on this book yet. Which should be pretty much anyone both on the inside and on the outside.
Where Are the Customers’ Yachts?: or A Good Hard Look at Wall Street
Jan 12, Tim Robinson rated it it was amazing Shelves: Schwed goes right for the soft spots of Wall St. In fact the more nascent or open to learning the better because this book is a great foundation for how investing should be understood tne executed. Published December 1st by Wiley first published January 10th Want to Read Currently Reading Read. When it’s bust buy the stocks from the people who are dying to sell the stock by selling bonds even at loss and stocks may go down further don’t pay attention and wait until the peak of next boom.
Then when they show a profit I sell them, exultantly. Popular aversion to short-selling clearly has a long history, as Schwed describes the early 20 th Century views schwwed blows up the mythology there as well. For some reason the subtle humor of the The Liberty Bar calendar never gets old for me. He published this infollowing his experience on Wall Street in the s and s, but you know what?
Where Are the Customers’ Yachts?: No speculators will beat the market forever. In principle it’s easy to do it it’s psychological. In the words of Peter Lynch, “if the only reason you can give when buying a stock is that the sucker is going up then probably you are not on the path to investing success” lol. That, if anything, is a lesson one might take away from this book.
Overall, an excellent read, and well worth the money. Apr frrd, Mahesh rated it really liked it. But never within six months, of course. Leave a Reply Cancel reply Your email address will not be published. A must read for any investment or portfolio professional 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.
Not too useful for someone who already doesn’t think highly of wall street and people in general. Naively, he asked where all the customers’ yachts were?
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.