Where Are the Customers' Yachts?
The funniest book ever written about Wall Street. Schwed exposes the fundamental conflict of interest at the heart of finance: the advisors get rich while their clients don't. Written in 1940 and still the most accurate description of how the financial industry actually works. If you read only one book about why your financial advisor's incentives don't align with yours, make it this one.
One joke, stretched to book length: the advisors get paid either way. Schwed's Wall Street of customers' men, bucket shops, and chart readers is a museum piece now, and the humor is gentle club-car stuff rather than satire that draws blood. You finish charmed, an hour older, knowing exactly one thing you already suspected.
The case for it and the rest of the canon open with Pro.
