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Publisher's 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, 2006 Fred Schwed, Jr. Foreword 1995 by John Wiley & Sons, Inc. Introduction 2006 by Jason Zweig (P)2012 Audible, Inc.

What listeners say about Where Are the Customers' Yachts?

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Keep reading and finish this book for a good laugh!

Funny, informative, and generally light on material and wisdom. This book was definitely worth a read for a couple of good laughs. And the author is not wrong. The world needs Wall Street. But nobody, not even those on Wall Street, can truly know what they are doing when it comes to investing due to psychological, social, and political forces.

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the intro was the best part

I did not like this book.

First, the book is only 4 hours long. However, there are 3 introductions. this leaves the book at 3 and a half hours.

Second, the prose of the main text is nothing like the story provided in the sample (which is from one of the introductions).

Third, the book tells no stories. It is a wordy tongue in cheek attempt at humor describing various participants tied to the act of investing.

On a positive side, the narration was good.

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  • Ndubuisi Egwim
  • 06-18-22

Funtastic, unputdownable

Loved every line of it, dripping with wit and humour yet very insightful and well ahead of its time.

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  • Gorgeous bird
  • 10-01-21

Fast, funny & interesting

Excellent quick book on the working and experience of one man on Wall Street. Good if you are just getting into investing or if you want something to listen to on an evening.

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  • Jake
  • 11-15-20

Very relevant today

Great insight from the 30's and have shifted my perspective of what I invest in opposed to speculate in

1 person found this helpful