Del 32 i serien Wiley Investment Classics

Where Are the Customers' Yachts?

or A Good Hard Look at Wall Street

Häftad, Engelska, 2006

239 kr

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"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 ". . . one 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"It's amazing how well Schwed's book is holding up after fifty-five 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 magazineHumorous 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.

Produktinformation

Utgivningsdatum2006-02-10
Mått140 x 216 x 18 mm
Vikt227 g
FormatHäftad
SpråkEngelska
SerieWiley Investment Classics
Antal sidor208
FörlagJohn Wiley & Sons Inc
IllustratörPeter Arno
ISBN9780471770893

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Introduction xiiiJason ZweigForeword to the 1995 Edition xxiMichael LewisIntroduction to the 1955 Bull Market Edition xxvI. Introduction—“The Modest Cough of a Minor Poet” 3The validity of financial predictionsThe passion for prophecyWhen the bull jumped over the moonII. Financiers and Seers 23Big banking—nice work if you can get itSome assistant tycoonsThe fruit on the blossom of thoughtWall street semanticsChartistsThe payThe difficulties of “earning” moneyAn art without a museA little aptitude testIII. Customers—That Hardy Breed 49Varieties of customersHow to get customersMarginWhat to do when the dam burstsSome case histories and a diagnosisChurning money as a careerIV. Investment Trusts—Promises and Performance 67Stop making your own mistakesWhere is the catch?The hell-paving construction companyThe trouble with the “best” securitiesThe $750,000 birdBy way of apologyThe magical investment corporationV. The Short Seller—He of the Black Heart 87For the defenseA different defenseWith and without bearsBear raidingVI. Puts, Calls, Straddles, and Gabble 105What options are (more or less)In defense of the pure gambleThe catchVII. The “Good” Old Days and the “Great” Captains 117The i.q. of a big shotSpeculation on speculationA brief excursion into probabilitiesDown will come baby“They”ManipulatorsA bowl of nickelsVIII. Investment—Many Questions and a Few Answers 135Headaches of the wealthyA little wonderful advicePrice and value—our special market letterCash as a long-term investmentYour way of life and the basis bookIX. Reform—Some Yeas and Nays 153Was it stolen or did you lose it?Nobody loves a specialistHorizons and limits of regulationInconclusionsAbout the Author 171