J. V. Bruni and Company
1528 North Tejon Street
Colorado Springs, Colorado 80907
(719) 575-9880 or (800) 748-3409
J. V. Bruni and Company1528 North Tejon Street Colorado Springs, Colorado 80907 (719) 575-9880 or (800) 748-3409
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Where Are the Customers’ Yachts?,
by Fred Schwed.  If Will Rogers had written a book on
investing, this is what it might have looked like. Nearly everyone
knows of this classic book’s famous title, although far fewer have
actually read this insightful and very witty work. Although written in
1940 (and updated in 1955), in terms of its timeliness it could well
have been written within the last ten years. For those who regard Wall
Street scandals as products of a
“decade of greed” (the 1980s or 1990s
being most commonly cited), Schwed argued over 60 years ago against
putting too much confidence in Wall Street
“professionals.” On one hand
the good-natured Schwed suggests that Wall Street talking heads, like
the ones investors can watch on CNBC every day, aren’t necessarily
crooks. However, on the other hand Schwed leads the reader to conclude
that the prime reason they aren’t crooks is that they’re not smart
enough to be crooks. All in all, this is a most insightful and
entertaining book. |
“A hilarious classic that proves the more things change the more they stay the same.” Michael Bloomberg
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