Where Are the Customers' Yachts?: Or a Good Hard Look at Wall Street (Wiley Investment Classics) (Paperback)

Where Are the Customers' Yachts?: Or a Good Hard Look at Wall Street (Wiley Investment Classics) Cover Image
By Fred Schwed, Peter Arno (Illustrator), Jason Zweig (Introduction by)
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"Once I picked it up I did not put it down until I finished. . . .What Schwed has done is capture fully-in deceptively cleanlanguage-the lunacy at the heart of the investment business."
-- From the Foreword by Michael Lewis, Bestselling author ofLiar's Poker

." . . one of the funniest books ever written about WallStreet."
-- Jane Bryant Quinn, The Washington Post

"How great to have a reissue of a hilarious classic that provesthe more things change the more they stay the same. Only the nameshave been changed to protect the innocent."
-- Michael Bloomberg

"It's amazing how well Schwed's book is holding up afterfifty-five years. About the only thing that's changed on WallStreet is that computers have replaced pencils and graph paper.Otherwise, the basics are the same. The investor's need to believesomebody is matched by the financial advisor's need to make a niceliving. If one of them has to be disappointed, it's bound to be theformer."
-- John Rothchild, Author, A Fool and His Money, FinancialColumnist, Time magazine

Humorous and entertaining, this book exposes the folly andhypocrisy of Wall Street. The title refers to a story about avisitor to New York who admired the yachts of the bankers andbrokers. Naively, he asked where all the customers' yachts were? Ofcourse, none of the customers could afford yachts, even though theydutifully followed the advice of their bankers and brokers. Full ofwise contrarian advice and offering a true look at the world ofinvesting, in which brokers get rich while their customers gobroke, this book continues to open the eyes of investors to thereality of Wall Street.

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?
Product Details
ISBN: 9780471770893
ISBN-10: 0471770892
Publisher: Wiley
Publication Date: December 1st, 2005
Pages: 170
Language: English
Series: Wiley Investment Classics (Paperback)