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Cargando... Where Are the Customers' Yachts?: or A Good Hard Look at Wall Street (1940)por Fred Schwed
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Inscríbete en LibraryThing para averiguar si este libro te gustará. Actualmente no hay Conversaciones sobre este libro. It wasn't quite as provocative, insightful or hilarious as i had been hoping. But nevertheless it was interesting to see that things haven't really changed since the book was written in 1940. I particularly liked his comments on the value of short-selling in chapter V and his comments on regulatory reform in chapter IX. My most favourite quote is: "Speculation is an effort, probably unsuccessful, to turn a little money into a lot. Investment is an effort, which should be successful, to prevent a lot of money becoming a little." A fun book that offers no solutions nor concrete advice, but does it's darndest to illustrate the problems on 1930's Wall Street, most of which are as poignant today as they were then. Schwed is consistently entertaining, self-deprecating and fair minded towards those oft villified wall street bankers and brokers. A key point Schwed makes that's worth remembering (especially these days) is that mistakes are made more often out of well-intentioned idiocy than crookery, but that each are equally damaging. While Schwed spends most of his time explaining and lamenting the situation instead of proferring answers, he manages to get away with it due to the humorous treatment he gives investing and finances in general. sin reseñas | añadir una reseña
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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. No se han encontrado descripciones de biblioteca. |
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Google Books — Cargando... GénerosSistema Decimal Melvil (DDC)332.64273Social sciences Economics Finance InvestingClasificación de la Biblioteca del CongresoValoraciónPromedio:
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In spite being written more than 50 years ago, the book is probably still relevant. First, because his definition of “speculation” remains accurate in describing a lot of stock trading. And secondly, because the lack of a reliable approach to successful “investing” is still the case. And the book is both informative and witty. ( )