Fred Schwed

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


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]


  1. ^ "Where are the Customers' Yachts? The Bull Edition by Fred Schwed, Jr". Go Antiques. Retrieved 18 December 2017.
  2. ^ "10 Great Lines From 'Where Are the Customers' Yachts?'". Retrieved 2017-12-18.
  3. ^ "FRED SCHWED JR., WRITER OF HUMOR; Author of Popular Books and Articles, 64, Dies". The New York Times. Retrieved 2016-05-21.
  4. ^ "Books on wall street (A website in Chinese)". Retrieved 18 December 2017.
  5. ^ "Business books: Where Are the Customers' Yachts? (Fred Schwed)". Business Insider. 2017-03-31. Retrieved 2017-12-18.
  6. ^ Schwed, Jr., Fred (1 January 2006). Where Are the Customers' Yachts?: or A Good Hard Look at Wall Street. New York: Wiley. ISBN 0471770892.
  7. ^ "Books and illustration on finance". Retrieved 18 December 2017.