Introduction Jason Zweig xiii Foreword to the 1995 Edition Michael Lewis xxi Introduction to the 1955 Bull Market Edition xxv I. Introduction??The Modest Cough of a Minor Poet? 3 The validity of financial predictions The passion for prophecy When the bull jumped over the moon II. Financiers and seers 23 Big banking?nice work if you can get it Some assistant tycoons The fruit on the blossom of thought Wall street semantics Chartists The pay The difficulties of ?earning? money An art without a muse A little aptitude test III. Customers?That Hardy Breed 49 Varieties of customers How to get customers Margin What to do when the dam bursts Some case histories and a diagnosis Churning money as a career IV. Investment Trusts?Promises and Performance 67 Stop making your own mistakes Where is the catch? The hell-paving construction company The trouble with the ?best? securities The $750,000 bird By way of apology The magical investment corporation V. The Short Seller?He of the Black Heart 87 For the defense A different defense With and without bears Bear raiding VI. Puts, Calls, Straddles, and Gabble 105 What options are (more or less) In defense of the pure gamble The catch VII. The ?Good? Old Days and the ?Great? Captains 117 The i.q. Of a big shot Speculation on speculation A brief excursion into probabilities Down will come baby ?they? Manipulators A bowl of nickels VIII. Investment?Many Questions and a Few Answers 135 Headaches of the wealthy A little wonderful advice Price and value?our special market letter Cash as a long-term investment Your way of life and the basis book IX. Reform?Some Yeas and Nays 153 Was it stolen or did you lose it? Nobody loves a specialist Horizons and limits of regulation Inconclusions About the Author 171
Fred Schwed Jr. was a professional trader who got out of the market after losing a bundle in the 1929 stock market crash. Years later, he published a bestselling children's book entitled Wacky, the Small Boy, and then went on to write Where Are the Customers' Yachts?
"More than half a century on, Where Are the Customers' Yachts? Remains a fascinating read" (Money Week, July 2006) "..the book is a fun read and as relevant today as it ever was" (Investor's Chronicle, August 2015)