Book Review: Where are the Customers Yachts? by Fred Schwed Jr

https://www.wiley.com/en-us/Where+Are+the+Customers%27+Yachts%3F%3A+or+A+Good+Hard+Look+at+Wall+Street-p-9780471770893

This is a classic book on the excesses of Wall Street where the customer always comes last. Fred Schwed Jr talks about the propensity of Wall Street to produce complex financial instruments where no common man can truly understand it clearly but yet they are peddled with this toxic stuff by some of the financial advisers. The customers are promised the moon but yet it almost always never materializes. Fred does delve into much detail on various financial instruments be it options, investment trusts, short selling and the like. By this description you would have guessed that Fred is talking out of his experiences from the 2008 financial crisis or maybe the 2000 dot com burst or maybe the 1987 flash crash. Surprisingly, Fred Schwed Jr wrote this book in the 1930's based on his experiences of the 1929 stock market crash and the ensuing great depression! Well, it looks like some things never change in Wall Street!http://www.wiley.com/WileyCDA/WileyTitle/productCd-0471770892.html

Comments

Post a Comment

Popular posts from this blog

Leadership Principles - Beyond the Job Description: Cultivating a Culture of Proactive Problem-Solving

Image
Imagine this: you're checking into a luxurious hotel across from a bustling convention center. As you approach the entrance, you're met with an unpleasant sight – a large stain on the pavement, the remnants of someone's vomit. You and other guests awkwardly sidestep the mess, while the doorman and receptionist observe with indifference and do nothing about it. I got to experience this firsthand a few years back which got me really thinking. This seemingly minor incident highlights a crucial principle: a company's success hinges not just on grand strategies, but on the everyday actions and attitudes of its employees. Just as a neglected stain on the pavement can tarnish a hotel's image, unchecked minor issues within an organization can lead to a decline in morale, productivity, and ultimately, success. Japanese customer service is renowned for its exceptional quality. Many store employees in Japan go above and beyond their typical job descriptions. This often include...
Read more

Autumn's Artistry

Image
This past weekend, I embarked on a journey that rekindled my spirit and filled me with a renewed sense of wonder. Cruising along the Colorado Peak to Peak Scenic Byway, I was enveloped by a symphony of autumnal colors. The aspens shimmered like liquid gold, their leaves dancing in the crisp mountain air. Fiery trees and bushes painted the landscape, creating a breathtaking tapestry of nature's artistry. As I navigated the winding road, I felt a profound connection to the natural world. The vibrant hues, the crisp air, and the majestic mountain vistas awakened something within me. I was reminded of the beauty and resilience of nature, its ability to transform and renew itself season after season. This experience transcended the visual; it was a symphony for the soul. It reminded me of the importance of seeking inspiration beyond the confines of my daily routine. Just as the trees shed their leaves, embracing change and preparing for a new season, I felt a renewed sense of purpose, a...
Read more

Book Review: Into the Wild by Jon Krakauer

https://www.goodreads.com/book/show/1845.Into_the_Wild I had mistakenly avoided reading this classic book by Jon Krakauer all these years. I was very pleasantly surprised to read this gripping real life tale about a young guy named Chris McCandless who rebelled against his parents, disappeared into thin air after graduation and set out to live an unknown life in the wild criss-crossing the American west and finally ending up in Alaska only to meet an untimely death. Jon traces Chris's young life, with his sometimes troubled relationship with his parents, his many soul searching journeys to find his inner self, his quest to find how much he could stretch himself and (on many occasions) his eschewing of most modern trappings of life including money. Unfortunately Chris's biggest asset, his youth, proves to be deadly in the end due to his in-experience and under estimation of the Alaskan wild. Its really amazing how the author Jon Krakauer has traced Chris's journey ...
Read more