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Fred Schwed's Where are the Customers' Yachts?: A modern-day interpretation of an investment classic
The title of this 1955 book 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, Where are the Customers' Yachts? continues to open the eyes of investors to the reality of Wall Street today. Leo Gough's interpretation of Where are the Customers' Yachts? illustrates the timeless nature of Fred Schwed's insights. Bringing them to life through 52 modern case studies, this brilliant interpretation is an entertaining accompaniment to one of the most eye-opening books on investment ever written.
118 pages, Paperback
First published August 23, 2010
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234 people want to read
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Displaying 1 - 13 of 13 reviews
February 11, 2017
This is book about a book... the reader meticulously condensed the sum knowledge of fred schwed book (allegedly) and sent it to the world as his book...
I read it, and it was interesting...
I read it, and it was interesting...
June 16, 2023
I love buying and reading these types of books.
Boats, yachts, historical events and books about the sea are generally excellent. If there are sequels in your series, I would love to read them.
The beauties of owning the books of important authors cannot be discussed. I'm looking forward to your new books.
For friends who want to read this book, I leave the importance of reading a book here. I wish good luck to the sellers and customers...
Top 10 benefits of reading for all ages:
1. Reading Exercises the Brain
As we read, we need to remember the different characters and settings of a particular story. Even if you enjoy reading a book in one sitting, you need to remember the details during the time you devote to reading the book. Therefore, reading is an exercise for your brain that improves memory function.
2. Reading Is a (free) Form of Entertainment
Did you know that most of the popular TV series and movies are based on books? So why not indulge in the original form of entertainment by immersing yourself in reading? Most importantly, it's free with your Markham Public Library card.
3. Reading Improves Concentration and Focus
We all agree that there can be no reading without focus, and we need to concentrate on every page we read to fully understand the story. In a world where gadgets only speed up and shorten our attention span, we must constantly practice concentration and focus. Reading is one of the few activities that requires your undivided attention, so it improves your ability to concentrate.
4. Reading Improves Literacy
Have you ever read a book where you come across a word you don't know? Books have the power to improve your vocabulary by introducing you to new words. The more you read, the more your vocabulary will improve as well as your ability to communicate effectively. Also, reading improves writing skills by helping the reader understand and learn different writing styles.
5. Reading Improves Sleep
By creating a bedtime routine that includes reading, you can signal to your body that it's time to sleep. Now more than ever, we rely on increased screen time to get through the day. That's why you put your phone away and pick up a book and tell your brain it's time to calm down. Also, since reading helps you relieve stress, reading right before bed helps calm your mind and anxiety and improve your sleep quality.
6. Reading Increases General Knowledge
Books are always full of fun and interesting facts. Whether we read fiction or non-fiction, books have the ability to provide us with information we might not otherwise know. Reading various topics can make you a more knowledgeable person and therefore improve your speaking skills.
7. Reading Is Motivating
By reading books about heroes overcoming adversity, we are often encouraged to do the same. Whether it's a romance novel or a self-help book, the right book can motivate you to never give up and stay positive.
https://numberoneboats.com/
https://theboatyacht.com/
https://theboatyacht.com/regal-leisur...
https://numberoneboats.com/regal-leis...
https://theboatyacht.com/leisure-23-f...
https://numberoneboats.com/leisure-23...
Boats, yachts, historical events and books about the sea are generally excellent. If there are sequels in your series, I would love to read them.
The beauties of owning the books of important authors cannot be discussed. I'm looking forward to your new books.
For friends who want to read this book, I leave the importance of reading a book here. I wish good luck to the sellers and customers...
Top 10 benefits of reading for all ages:
1. Reading Exercises the Brain
As we read, we need to remember the different characters and settings of a particular story. Even if you enjoy reading a book in one sitting, you need to remember the details during the time you devote to reading the book. Therefore, reading is an exercise for your brain that improves memory function.
2. Reading Is a (free) Form of Entertainment
Did you know that most of the popular TV series and movies are based on books? So why not indulge in the original form of entertainment by immersing yourself in reading? Most importantly, it's free with your Markham Public Library card.
3. Reading Improves Concentration and Focus
We all agree that there can be no reading without focus, and we need to concentrate on every page we read to fully understand the story. In a world where gadgets only speed up and shorten our attention span, we must constantly practice concentration and focus. Reading is one of the few activities that requires your undivided attention, so it improves your ability to concentrate.
4. Reading Improves Literacy
Have you ever read a book where you come across a word you don't know? Books have the power to improve your vocabulary by introducing you to new words. The more you read, the more your vocabulary will improve as well as your ability to communicate effectively. Also, reading improves writing skills by helping the reader understand and learn different writing styles.
5. Reading Improves Sleep
By creating a bedtime routine that includes reading, you can signal to your body that it's time to sleep. Now more than ever, we rely on increased screen time to get through the day. That's why you put your phone away and pick up a book and tell your brain it's time to calm down. Also, since reading helps you relieve stress, reading right before bed helps calm your mind and anxiety and improve your sleep quality.
6. Reading Increases General Knowledge
Books are always full of fun and interesting facts. Whether we read fiction or non-fiction, books have the ability to provide us with information we might not otherwise know. Reading various topics can make you a more knowledgeable person and therefore improve your speaking skills.
7. Reading Is Motivating
By reading books about heroes overcoming adversity, we are often encouraged to do the same. Whether it's a romance novel or a self-help book, the right book can motivate you to never give up and stay positive.
https://numberoneboats.com/
https://theboatyacht.com/
https://theboatyacht.com/regal-leisur...
https://numberoneboats.com/regal-leis...
https://theboatyacht.com/leisure-23-f...
https://numberoneboats.com/leisure-23...
January 3, 2022
Good start to 2022! I couldn’t find the original book so got my hands on the modern adaptation. Based on the OG classic, many of Fred Schwed’s views still hold true today and a good reminder of first principle thought processes.
++
Businesses are hard, focus of productive and constructive aspects of life, stay grounded and educated, read ARs backwards, 5-10yr timelines are key differentiators, money can make people ugly, rich =/= good investors, wide diversifications are only for those who don’t know what they’re doing (purpose is to be defensive not offensive), can’t have both security + large gains in the stock market, don’t try to play God, retirement planning is important (healthcare and nursing costs will only increase), avoid shady indices, turnaround successes are v v rare, writing down your rationale can be powerful, read read read
++
Businesses are hard, focus of productive and constructive aspects of life, stay grounded and educated, read ARs backwards, 5-10yr timelines are key differentiators, money can make people ugly, rich =/= good investors, wide diversifications are only for those who don’t know what they’re doing (purpose is to be defensive not offensive), can’t have both security + large gains in the stock market, don’t try to play God, retirement planning is important (healthcare and nursing costs will only increase), avoid shady indices, turnaround successes are v v rare, writing down your rationale can be powerful, read read read
May 14, 2021
I wish I had read Fred Schwed's original book and its sequels many years ago. The story has been updated, but the truth about Wall Street has not changed. That truth is eye-opening. The first edition is hilarious, although the language it uses is archaic and requires some knowledge of history (i.e., he calls mutual funds by their original name: investment trusts).
December 28, 2019
This is a short and basic but useful guide on how a beginner can thrive in investing.
November 21, 2021
Bit dated but good basics
March 21, 2022
Terrible! Read the original one instead, that's a classic.
April 18, 2022
Consejos financieros condensados en capítulos cortos. Básicamente un gran resumen de cómo necesitas manejar tus finanzas e inversiones.
July 4, 2024
Was this not the actual book? What did I read
August 7, 2017
In the financial business society of the past we offen had no choice but to deal with the likes of men even today this has yet to be unchanged much.
I personally find it to be especially so of even its literature of today as It still remains very dominated and over run by men.
With exception now for this little classic although originally written by a man in an eara and time when this was far more acceptable therefore causing less of an issue.
It can now lay claim to pointing out a foreseeable change maybe into the future, It's has done so well to bring attention to the simple fact that women could play an equal part in the financial business world by this interpretation alone it has also implied they could do just as well if not better then men....
Bravo! Fred Schwed
With having said that it covered Typical many aspects of what is still the same even in today's Stockmarket...
As we find many of the methods of trading remain unchanged as it it was still 1940 for men & now women alike...
I personally find it to be especially so of even its literature of today as It still remains very dominated and over run by men.
With exception now for this little classic although originally written by a man in an eara and time when this was far more acceptable therefore causing less of an issue.
It can now lay claim to pointing out a foreseeable change maybe into the future, It's has done so well to bring attention to the simple fact that women could play an equal part in the financial business world by this interpretation alone it has also implied they could do just as well if not better then men....
Bravo! Fred Schwed
With having said that it covered Typical many aspects of what is still the same even in today's Stockmarket...
As we find many of the methods of trading remain unchanged as it it was still 1940 for men & now women alike...
August 10, 2019
A little too basic with some info that factually incorrect or misleading.
Eg 1.) the SEC doesnt care whether the market goes up or down; they are a regulator.
2.) derivatives are not all bad, just because you cant understand them doesnt immediately make them useless. But i suppose theres nothing wrong with telling financial noobs to keep away from complexity.
3.) while technical analysis may not seem to work, it is in fact a gate to understanding investor behavioural psychology. Completely dismissing it is exactly the same as 2.), ignoring it just because you dont understand it.
A couple other more, but all in all too basic.
Eg 1.) the SEC doesnt care whether the market goes up or down; they are a regulator.
2.) derivatives are not all bad, just because you cant understand them doesnt immediately make them useless. But i suppose theres nothing wrong with telling financial noobs to keep away from complexity.
3.) while technical analysis may not seem to work, it is in fact a gate to understanding investor behavioural psychology. Completely dismissing it is exactly the same as 2.), ignoring it just because you dont understand it.
A couple other more, but all in all too basic.
This entire review has been hidden because of spoilers.
May 22, 2015
Was relatively interesting, lacked significant substance and the added commentary wasn't really that helpful. Pretty basic, but short and to the point. Not sure if the original version by Schwed is better, but not a must read.
February 26, 2016
Enjoyable but I think I should have read the original
Displaying 1 - 13 of 13 reviews