BN.com Gift Guide

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

( 2 )

Overview

"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, Bestselling author of Liar's Poker

This hilarious portrait of everyday Wall Street and its denizens rings as true today as it did when it was first published in 1940. Writing with a rare mixture of wry cynicism and bonhomie reminiscent of Mark Twain and H. L. Mencken, Fred Schwed, Jr., skewers ...

See more details below
Available through our Marketplace sellers.
Other sellers (Paperback)
  • All (24) from $1.99   
  • New (4) from $13.98   
  • Used (20) from $1.99   
Close
Sort by
Page 1 of 1
Showing All
Note: Marketplace items are not eligible for any BN.com coupons and promotions
$13.98
Seller since 2008

Feedback rating:

(17777)

Condition:

New — never opened or used in original packaging.

Like New — packaging may have been opened. A "Like New" item is suitable to give as a gift.

Very Good — may have minor signs of wear on packaging but item works perfectly and has no damage.

Good — item is in good condition but packaging may have signs of shelf wear/aging or torn packaging. All specific defects should be noted in the Comments section associated with each item.

Acceptable — item is in working order but may show signs of wear such as scratches or torn packaging. All specific defects should be noted in the Comments section associated with each item.

Used — An item that has been opened and may show signs of wear. All specific defects should be noted in the Comments section associated with each item.

Refurbished — A used item that has been renewed or updated and verified to be in proper working condition. Not necessarily completed by the original manufacturer.

New
Brand New, Perfect Condition, Please allow 4-14 business days for delivery. 100% Money Back Guarantee, Over 1,000,000 customers served.

Ships from: Westminster, MD

Usually ships in 1-2 business days

  • Canadian
  • International
  • Standard, 48 States
  • Standard (AK, HI)
$13.99
Seller since 2014

Feedback rating:

(193)

Condition: New
Brand new.

Ships from: acton, MA

Usually ships in 1-2 business days

  • Standard, 48 States
  • Standard (AK, HI)
$50.00
Seller since 2014

Feedback rating:

(193)

Condition: New
Brand new.

Ships from: acton, MA

Usually ships in 1-2 business days

  • Standard, 48 States
  • Standard (AK, HI)
$50.00
Seller since 2014

Feedback rating:

(193)

Condition: New
Brand new.

Ships from: acton, MA

Usually ships in 1-2 business days

  • Standard, 48 States
  • Standard (AK, HI)
Page 1 of 1
Showing All
Close
Sort by
Sending request ...

Overview

"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, Bestselling author of Liar's Poker

This hilarious portrait of everyday Wall Street and its denizens rings as true today as it did when it was first published in 1940. Writing with a rare mixture of wry cynicism and bonhomie reminiscent of Mark Twain and H. L. Mencken, Fred Schwed, Jr., skewers everyone including himself in his brilliant send-ups of bankers, brokers, traders, investors, analysts, and hapless customers.

"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 President, Bloomberg, LP

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

"It's amazing how well Schwed's book is holding up after 55 years. About the only thing that's changed on Wall Street is that computers have replaced pencils and graph paper. Otherwise, the basics are the same. The investor's need to believe somebody is matched by the financial advisor's need to make a nice living. If one of them has to be disappointed, it's bound to be the former."-John Rothchild, Author, A Fool and His Money Financial Columnist, Time magazine

"A delightful classic and reminder of excesses past and how little things change." -Bob Farrell, Senior Vice President, Merrill Lynch

Read More Show Less

Editorial Reviews

From the Publisher
"wonderful book" (Evening Standard, 24 August 2001)
Michael Bloomberg
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.
Jane Bryant Quinn
. . . one of the funniest books ever written about Wall Street..
John Rothchild
It's amazing how well Schwed's book is holding up after 55 years. About the only thing that's changed on Wall Street is that computers have replaced pencils and graph paper. Otherwise, the basics are the same. The investor's need to believe somebody is matched by the financial advisor's need to make a nice living. If one of them has to be disappointed, it's bound to be the former..
Bob Farrell
A delightful classic and reminder of excesses past and how little things change..
Charles Ellis
Where Are the C-C-Customers' Yachts? is a g-g-great read..
Michael Bloomberg
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..
Read More Show Less

Product Details

  • ISBN-13: 9780471119784
  • Publisher: Wiley, John & Sons, Incorporated
  • Publication date: 3/1/1995
  • Series: A Marketplace Book Series , #7
  • Edition number: 1
  • Pages: 256
  • Product dimensions: 5.49 (w) x 8.44 (h) x 0.68 (d)

Meet the Author

Fred Schwed, Jr., was a professional trader who had the good sense to get out after losing a bundle (of mostly his own money) in the 1929 crash. Some years later, he published a children's book titled Wacky, the Small Boy. Wacky became a bestseller, and Schwed went on to draw further on his experience in writing Where Are the Customers' Yachts? His publisher said of him, "Mr. Schwed has attended Lawrenceville and Princeton and has spent the last ten years on Wall Street. As a result, he knows everything there is to know about children."
Read More Show Less

Table of Contents

Financiers and Seers.

Customers-That Hardy Breed.

Investment Trusts-Promises and Performance.

The Short Seller-He of the Black Heart.

Puts, Calls, Straddles, and Gabble.

The &'grave;Good'' Old Days and the &'grave;Great'' Captains.

Investment-Many Questions and a Few Answers.

Reform-Some Yeas and Nays.

Read More Show Less

Customer Reviews

Average Rating 3.5
( 2 )
Rating Distribution

5 Star

(1)

4 Star

(0)

3 Star

(0)

2 Star

(1)

1 Star

(0)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously
Sort by: Showing all of 2 Customer Reviews
  • Anonymous

    Posted March 21, 2014

    Excellent lessons on Wall Street.

    Excellent book but bear in mind it covers Wall Street prior to and after the creation of the SEC. But the principles are still the same.
    If you want to involve yourself as a player in the market you need to absorb the lessons communicated in this book. Terminology has changed over the years. Don't cry if you get your fingers burned. Expect it every so often. If you want an education this book is good medicine humorously delivered!
    - An ol' Kentucky Curmudgeon

    Was this review helpful? Yes  No   Report this review
  • Anonymous

    Posted March 31, 2001

    An Investment Classic All Stock Investors Should Read!,

    This book clearly deserves more than five stars for exposing the folly of Wall Street in the most humorous possible terms. This book's fame far exceeds the number of people who have read it. Almost every experienced stock investor will cite examples from the book, without even knowing their source. The title refers to an ancient story (which the author finds is probably at least 100 years old by now) about a visitor to New York who admired the yachts that the bankers and brokers had in the harbor. Naively, he then asked where the customers' yachts were. Naturally, there were no customers' yachts. Let me set the stage. The author spent two years on Wall Street in the 20s, but knew it better than that and continued to invest in stocks. He wrote the book in 1940 after the horrible bear years of 1929-1940. The memories of the 1920s were still fresh. Then he updated the book in 1955 in the midst of the 50s bull market with a new introduction in which he explained that the book did not need updating. Although commissions are no longer fixed, and few spend the day sitting in a broker's office, many of the other observations in the book remain as timely as those in The Madness of Crowds. Human nature doesn't change. Behind all of the hype about getting rich with stock investments is a sad reality. Over a lifetime, the vast majority of people get poor results from their stock investing. Around 90 percent of professionals will also underperform the market averages over their careers. But the desire to 'outsmart' everyone else is almost universal. Raging bull markets, like the one we had until March 2000 on the NASDAQ, only tend to reinforce these ultimately expensive urges. I have been around professional investors for over thirty years and all the big scores I remember involving stocks came after someone who was a founder or worked for a company that went public cashed in their stock and stock options after many years of service. These are not stock-investing events, they are entrepreneurial compensation. In the Money Game, Adam Smith pointed that out, and it remains as true today as it was then. One of the classic stories in this book is about what would happen if 4000 people started flipping coins against each other. You are eliminated from the competition after one loss. Although by definition, half would win and half with lose with each flip, those who had won ten times in a row (as must happen for some in this format) would soon start to give lessons in coin flipping techniques. That story nicely captures the folly of Wall Street. Even though some may win, it usually doesn't mean anything. The book contains other investment classic stories that you must have in your repertoire. The book is brilliantly illustrated by the classy cartoons of Peter Arno. It is worth acquiring the book just for those. The subjects covered include Wall Street's passion for prophecy, financiers and seers, customers (or the sheep to be shorn), mutual funds, short sellers, options, speculators and the bull market of the 20s, and the excuses handed out to those who are relieved of their money. The writing style is urbane and witty. For example, there is the usual disclaimer on not following the advice in the book in the beginning. Except, it is illustrated by two hands with fingers crossed. And, the warnings are a just little different. The information in this book 'while not guaranteed by us, has been obtained from sources which have not in the past proved particularly reliable.' The author had discovered that titles cannot be copyrighted, and he 'had planned to have my book appear under a good title, The Adventures of Huckleberry Finn.' The author's favorite review of the book contained this phrase, 'If I were J.P. Morgan, and I have no reason to suspect that I am not . . . .', and was signed by the author of the review, Mr. Frank Sullivan. The subsequent witty correspondence between them is included in the

    Was this review helpful? Yes  No   Report this review
Sort by: Showing all of 2 Customer Reviews

If you find inappropriate content, please report it to Barnes & Noble
Why is this product inappropriate?
Comments (optional)