Where Are the Customer's Yachts?
by Fred Schwed Jr. · first published 1940
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2015–2023first – last mentioned
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> then starts talking about market sentiment and concludes by analyzing it's chart You summarise my experience of the financial industry well. If you haven't already, read "Where Are The Customer's Yachts" by Fred Schwed - very entertaining and funny, in a kind of sad way: https://www.amazon.com/Where-Are-Customers-Yachts-Street/dp/...
on ““Becoming Warren Buffett,” the Man, Not the Investor” ↗He references "Where Are the Customer's Yachts?"! That's a great fun little book, written in 1940 looking back on the madness leading up to 1929.
on “Warren Buffett Just Wrote His Best Annual Letter” ↗…“financial advisors” are going to be able to outperform these sorts of funds. I think this is moot, because human financial advisors are not trying to beat anything, they are trying to spend your money. Read "Where Are the Customer's Yachts?" By Fred Shwed Also Jack Bogle used to talk about the S&P 500 would be most people trading individual stocks (sorry I need to dig up the source for this). Point being: you may not need fancy algorithms…
on “Robots in Finance Could Wipe Out Some of Its Highest-Paying Jobs” ↗Reminds me of the investing classic Where Are the Customer’s Yachts?
on “The influencers getting rich by teaching you how to get rich” ↗