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

  • By: Fred Schwed Jr., Peter Arno
  • Narrated by: Mark Moseley
  • Length: 4 hrs and 5 mins
  • Unabridged Audiobook
  • Release date: 03-08-12
  • Language: English
  • Publisher: Audible Studios
  • 4 out of 5 stars 4.2 (23 ratings)

Summary

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.
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Critic reviews

"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, best-selling author of Liar's Poker)
"[O]ne of the funniest books ever written about Wall Street." (Jane Bryant Quinn, The Washington Post)
"How great to have a reissue of a hilarious classic that proves the more things change the more they stay the same. Only the names have been changed to protect the innocent." (Michael Bloomberg)
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Regular price: £11.29

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Customer Reviews

Most Helpful
4 out of 5 stars
By rubik on 22-12-16

A must "listen"

Great perspective of the goings on of the financial industry. The essence of the book is that the "casino always wins".

Enjoy

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5 out of 5 stars
By mp on 24-03-15

It is very true!!!!!

I need to agree entirely with the author. People never change. Especially working in this area described in this fantastic book. Thank you.

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Customer Reviews

Most Helpful
5 out of 5 stars
By NEEL KANASE on 13-07-15

Great insight

I am amazed at the accuracy of how brokers talk to clients and how little has changed in 80 years!
Very good insight to know that if you invest with discipline you will be successful and you don't 'need' a broker and you CAN do it on your own. Great read for a novice like me!

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1 of 1 people found this review helpful

5 out of 5 stars
By montgomery on 16-04-15

Classic book!

Very informational, yet entertaining. Before you go and lose money speculating in the market, please listen to this audio book.

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1 of 1 people found this review helpful

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