Thursday, November 26, 2015

Where Are The Customers' Yachts?

This Warren Buffett recommendation is all about how Wall Street works. Though it was written decades ago, it's all still relevant, as human nature, and therefore the way Wall Street conducts business, hasn't changed.

The book is actually pretty funny. Schwed is able to get his message across using laugh-out-loud humour at times, which is not something I'd have expected from a book like this.

If you're a Buffett follower already, then you likely already know the message the book contains: Wall Street is about self-dealing; that's just how the incentives work in the finance business. You're not likely to come out richer after your dealings with Wall Street, which is more about showmanship and generating commissions etc.

If you're new to the industry, however, and don't know anything about this topic, I highly recommend the book.

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