Re-Kindled: Where Are the Customers’ Yachts?

The Animal Spirits book club re-read the classic Where Are the Customers’ Yachts by Fred Schwed for this week’s Re-Kindled podcast.

We discuss:

  • Why Fred Schwed would have been amazing on Twitter.
  • The timeless nature of Schwed’s thoughts on markets, investing, and the wealth management industry.
  • The best description of the Great Depression I’ve ever read.
  • Why people on Wall Street aren’t all bad.
  • The value of “I don’t know.”
  • Why losing money is one of the best things that can happen to a young investor.
  • Who is to blame for poor financial advice?
  • Why shorting and trading options are both so difficult.
  • The one constant in the markets over time.

Listen here:

And feel free to read along with our next book, Superforecasting by Phillip Tetlock for the next episode of Re-Kindled.

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