Where Are the Customers' Yachts? Or a Good Hard Look at Wall Street
Book description
'Once I picked it up I did not put it down until I finished...What Schwed has done is capture fully-in deceptively clean language - the lunacy at the heart of the investment business' - From the Foreword by Michael Lewis, Bestselling author of "Liar's Poker". '...one of the funniest books…
Genres
- Coming soon!
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Why read it?
3 authors picked Where Are the Customers' Yachts? Or a Good Hard Look at Wall Street as one of their favorite books. Why do they recommend it?
Although this book was written over 80 years ago it remains the most humorous and educational book ever written about securities investing. While its focus is on the 1920s, it is dead on point today. Only the names have changed. I’ve read this book a number of times. On each occasion, I laugh a lot and learn a lot.
From Matthew's list on American financial history.
This book is over 60 years old but so relevant today! The headline involves a brokerage firm customer looking at all the yachts owned by stockbrokers, hence the question in the title. A well-known writer friend of mine put it another way: “The broker made money, his investment firm made money, and two out of three ain’t bad.” I love this book that zeroes in on the conflict brokers have between their own interests and the interests of their clients.
From Peter's list on to retire with millions in the stock market.
Many financial advisers and brokers own yachts while most of their clients struggle to afford clunker cars. This book tells us why. Its exposures are just as valid today, and the writing just as hilarious to read.
From Avinash's list on economics and game theory.
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