Fred Schwed's Where are the customers' yachts?: a modern-day interpretation of an investment classic

Description

Front Cover; Front Page; Title Page; Copyright; Table of Contents; Introduction; 1 Increasing your savings income -- the wrong way; 2 Speculation; 3 Share prices don't always go up; 4 The future of investment; 5 Booms go 'boom'!; 6 Professional stock-picking; 7 Spend your income, not your capital; 8 Capital Markets; 9 Probability; 10 Who to blame?; 11 Popular shares; 12 Derivatives; 13 Stock indices; 14 The trouble with accounting; 15 No momentum in prices; 16 Technical analysis; 17 Good stories; 18 Nanny state?;"The title of this 1955 book 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, 'Where are the customer's yachts' continues to open the eyes of investors to the reality of Wall Street. Here, Leo Gough's interpretation of 'Where are the customer's yachts' illustrates the timeless nature of Fred Schweb's insights by bringing them to life through 52 modern case studies. This brilliant interpretation is an entertaining accompaniment to one of the most famous books on investment ever written."--Resource description page. Front Cover Front Page Title Page Copyright Table of Contents Introduction 1 Increasing your savings income -- the wrong way 2 Speculation 3 Share prices don't always go up 4 The future of investment 5 Booms go 'boom'! 6 Professional stock-picking 7 Spend your income, not your capital 8 Capital Markets 9 Probability 10 Who to blame? 11 Popular shares 12 Derivatives 13 Stock indices 14 The trouble with accounting 15 No momentum in prices 16 Technical analysis 17 Good stories 18 Nanny state? 19 Just because someone works in the stock market doesn't mean they are a good investor20 Diversification 21 Having your cake and eating it 22 Exceptions are the rule 23 Fundamental Analysis 24 New Issues 25 Trustees, Executors and Lawyers 26 Retirement planning 27 Index investing 28 Don't invest on a high 29 Companies don't often turn around 30 Ride the winners 31 The trouble with transaction costs 32 Crooks 33 Avoiding the big collapses 34 Counter-cyclical investment 35 Globalisation 36 Numeracy required 37 Short selling 38 Those crazy regulators 39 Collective investments. 40 Mergers and acquisitions41 Massaging the figures 42 Looking for bargains 43 Discounted cash flow 44 Stock market newsletters 45 Life plan 46 Hedge funds 47 Some important basics 48 Behavioural finance 49 Business is hard 50 Loss 51 The 'fat, stupid peasant' approach 52 Books on the stock market Index.