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“Where Are The Customers’ Yachts?” – A Wall Street Perspective For The Ages
I would like to share with you a quote from Tony Robbins’ new book titled ‘Money: Master The Game.’ Here it is:
“Fred Schwed Jr. was a professional trader who quit Wall Street after losing a lot of his money in the crash of 1929. In 1940, he wrote the investment classic ‘Where Are The Customers’ Yachts – A Good Hard Look At Wall Street’. The joke behind the title has been retold many different ways over the years, but in Schwed’s version, a successful Wall Street broker is admiring many beautiful yachts while on vacation in Newport, RI. Each yacht he inquires about happens to belong to a Wall Street broker, banker or trader.
He asks, “WHERE ARE THE CUSTOMERS’ YACHTS?” Nearly 75 years have passed since this story first published, but it could have been written yesterday!”
Matt Nelson, president and host of Income For Life Radio
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