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Where Are the Customers' Yachts: or A Good Hard Look at Wall Street (Wiley Investment Classics)
by Fred Schwed
from Wiley
Customer Reviews:
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Avg. Customer Rating: 4.5 / 5.0 
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The funniest stock-market book I've ever read. 
Yes, I am one of the few who read the book cover to cover. It does not take long, and it is really really funny.
The funniest chapter was the one on short-selling.
RShaw
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How timely
As the financial sector has neared meltdown lately the wit and wisdom of this broker from the 1920s era was enlightening. Will Wall Street ever learn? I expect to see more bubbles before I am done investing. I'll probably be re-reading Schwed's book then, too. Jason Zweig is great, he made a lot of helpful updates to a few archaic references in the book, and otherwise updated it.
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Funny, but useless 
For the author investing is nothing but a flipping contest where you have 50/50 odds...
Of course there is always a risk, and a possible reward, but if you are able to at least approximately calculate these risks and the reward outweights by a good margin the risk, then you are investing (which according to the author is impossible)...
It is funny, but if you are looking for a funny investing book "A fool and his money" is much more enjoyable...
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Timeless and User Friendly Insight into Wall Street
Where are the Customers' Yachts? was written in 1940, but the advice and insights contained in this slim volume are as up-to-date as anything you will read on the Internet this week. Written in a humerous and down-to-earth style, without a lot of confusing jargon or mathematical equations, Mr. Schwed tells investors what they can expect from Wall Street and what they ought not to expect. He never talks down to his readers; nor does he require that they have PhDs in Economics. Rather, he simply states facts... more info
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