Another aspect of M’s approach was that he was a steadfast supporter of leverage, which is also highly unusual given that he endured the pandemic crash at ground zero.

On using statistics to your advantage: “One can’t say that figures lie. But figures as used in financial arguments, seem to have the bad habit of expressing a small part of the truth forcibly, and neglecting the other part, as do some people we know.” The full impact of losing money cannot be conveyed by words. One has to lose money to understand what a loss is. The 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.Where Are the Customer’s Yachts? by Fred Schwed Jr. is a classic book and an amusing take on investing which exposes the investment industry for what it is and offers some contrarian advice on how to invest money.

This effort is difficult, some- fering a true look at the world of fett posed this challenge to his times messy, and a constant reminder of the investing, in w View PDF Jane Bryant Quinn, The Washington Post "How great to have a reissue of a hilarious classic that proves the more things change the more they stay the same. Only the names have been changed to protect the innocent."

Do you provide any winter/summer storage for customers' RVs, boats, motorcycles, ATVs, snowmobiles, PWC, etc? View PDF The writer also comments on the detachment of the investor or speculator from the real businesses represented by pieces of paper – and “with these pieces of paper thrilling games can be played……this inability to grasp ultimate realities is the outstanding mental deficiency of the speculator, small as well as great”.