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

Lu par : Mark Moseley
Durée : 4 h et 2 min
5 out of 5 stars (2 notations)

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Description

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.

Critiques

"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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Notations

Global

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Histoire

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  • Global
    5 out of 5 stars
  • Interprétation
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  • Histoire
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Image de profile pour NEEL  KANASE
  • NEEL KANASE
  • 13/07/2015

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!

2 personnes ont trouvé cela utile

  • Global
    5 out of 5 stars
  • Interprétation
    5 out of 5 stars
  • Histoire
    5 out of 5 stars
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  • investor135
  • 11/04/2015

Awesome!

Funny and informative book. If you want investing book, this one is for you. Look at the mirror afterwards and see how you are loosing just like that.

1 personne a trouvé cela utile

  • Global
    5 out of 5 stars
  • Interprétation
    5 out of 5 stars
  • Histoire
    5 out of 5 stars
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  • Chris
  • 07/03/2015

Timeless

From the story to the performance... Fantastic!
It's unbelievable that this book was written so long ago and yet still resonates today.

1 personne a trouvé cela utile

  • Global
    4 out of 5 stars
  • Interprétation
    4 out of 5 stars
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    4 out of 5 stars
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  • R. Duncan
  • 07/01/2013

Fun and Informative

This is a light-hearted, informative book about financial markets and investment. It provides timeless insight into behavioral finance. Get ready to smile!

1 personne a trouvé cela utile

  • Global
    2 out of 5 stars
  • Interprétation
    4 out of 5 stars
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    1 out of 5 stars
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  • Nick
  • 07/08/2019

Mostly a waste of time

Just felt like a long sarcastic rant. Didn’t glean a ton of new information, personally.

  • Global
    5 out of 5 stars
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  • Kindle Customer
  • 24/05/2019

So much fun to read and still very relevant

Short, witty and truthful. I was in the institutional equity sales for many years starting in late 90s. It is amazing how much of the spirit and character has still survived to this day. A must read for anyone investing and dealing with intermediaries in the financial market.

  • Global
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  • Gui1000
  • 08/05/2018

funny and very profound

Very entertaining and insightful. Full of intelligent sarcasm. It appears that little has changed in Wall Street. Well, it's not surprising since we are still the same humans with the same behavior. I loved the part when he depicts the way advisors decide what belongs to the customer after a trading day ends: "they throw all the dollars up, and whatever sticks to the ceiling, belongs to the client". Read it to see why the author would choose a crook and bright advisor vs an honest fool. Very funny and true!

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    5 out of 5 stars
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    5 out of 5 stars
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  • Your Brother
  • 16/03/2018

wow what a great book

this is a great book I read it and immediately was impressed by how entertaining and enlightening it was considering how old it was written in 1955 originally it really shows the intelligence of the author. I would have to say that it was one of the top five financial literacy books that have ever been written

  • Global
    5 out of 5 stars
  • Interprétation
    5 out of 5 stars
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  • J. Lackey
  • 01/03/2018

Everyone should read this

Where does Where Are the Customers' Yachts?: or A Good Hard Look at Wall Street rank among all the audiobooks you’ve listened to so far?

Top notch. Got to be in the top 5.

What was one of the most memorable moments of Where Are the Customers' Yachts?: or A Good Hard Look at Wall Street?

The most memorable moment, to answer this question, was where he talked about technical analysis. Comparing it to astrology. Which does seem to fit.

Which scene was your favorite?

Where the non banker asked the banker where all the customer's yachts were. As this book will tell you, in the financial industry, the customer is at the very bottom of the totem pole. So skip all those BS artists, and just take matters into your own hands. You'll be better off. They're all just people who have dedicated their lives to mumbo jumbo, and have managed to convince the world that they're somehow respectable.

If you could give Where Are the Customers' Yachts?: or A Good Hard Look at Wall Street a new subtitle, what would it be?

"Stay away from the hoards of idiots and crooks in the financial industry."

Any additional comments?

Excellent book. Warren Buffet said it was the very first book he read on finance at age 11. After reading it, you can tell he still subscribes to its tenants to this very day. After you listen to this audiobook, you'll understand why he says many of the things he says.

  • Global
    5 out of 5 stars
  • Interprétation
    5 out of 5 stars
  • Histoire
    4 out of 5 stars
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  • Dennis
  • 27/06/2017

true then, true now

fast, clear, funny...how much has not changed in wall st, or even with modern tech. the tomfoolery if market experts is, well, timeless. if you trade, you have to read this.

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  • Global
    5 out of 5 stars
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  • Stephan
  • 02/07/2013

Funny, but honest book on Wall Street

Really the funniest book on finance matters I've ever read/heard. And, in addition, with a good part of history in it. For example, who still remembers the practice of tape reading? I've never heard from that before!

A really good book about Wall Street!