Where Are the Customers’ Yachts?


While many books about trading and the stock market quickly become irrelevant, certain aspects of the markets are timeless. I’ve been going through my local library’s bookshelves, looking for books that might provide some insight. Most are technical in nature, but I’m currently reading Where Are the Customers’ Yachts? (or A Good Hard Look a Wall Street) by Fred Schwed Jr.

It was originally published in 1940, and has been reprinted several times since then. It’s a light-hearted, satirical and amusing roast of Wall Street and the players involved. Brokers, retail investors, bankers, chartists, short-sellers…no one avoids scrutiny. Given the book’s age, it’s amazing how much of it is still deadly accurate today. So if you want a short read and a good chuckle, I recommend it.

A link to the book for your convenience (no affiliation).

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