Fred Schwed Explained

Fred Schwed, Jr. was an American stock broker turned author, known for his book on Wall Street, Where Are the Customers' Yachts?^{[1] [2]}

Background

Schwed was born in New York. Schwed's father, Frederick Schwed, was a member of the New York Curb Exchange (renamed in 1953 to AMEX).^[3]

He was a professional trader on Wall Street, but lost much of his wealth in the stock market crash of 1929. He subsequently published a children's book, Wacky, the Small Boy, and later, Where Are the Customers' Yachts?^{[4] [5]} Published in 1940 by Simon & Schuster (New York), the book is often cited by finance people such as Warren Buffett, Jack Bogle, and Michael Lewis as one of the most authentic, timeless, hilarious, and true descriptions of the culture of Wall Street and investment firms.^{[6] [7]}

Notes and References

1. Web site: Where are the Customers' Yachts? The Bull Edition by Fred Schwed, Jr.. www.goantiques.com. Go Antiques. December 18, 2017.
2. Web site: 10 Great Lines From 'Where Are the Customers' Yachts?'. awealthofcommonsense.com. February 15, 2015 . en-US. 2017-12-18.
3. Web site: FRED SCHWED JR., WRITER OF HUMOR; Author of Popular Books and Articles, 64, Dies . The New York Times . May 11, 1966 . June 7, 2022.
4. Web site: Books on wall street (A website in Chinese). www.wallstreetcn.com. December 18, 2017.
5. News: Business books: Where Are the Customers' Yachts? (Fred Schwed). March 31, 2017. Business Insider. 2017-12-18.
6. Book: Schwed, Jr.. Fred. Where Are the Customers' Yachts?: or A Good Hard Look at Wall Street. January 1, 2006. Wiley. New York. 0471770892.
7. Web site: Books and illustration on finance. www.philnel.com. December 18, 2017.