Where Are The Customers Yachts? - A Good Look At Wall Street

John MaGee Hardcover with 217 pages & approx. size: 5 1/2 x 8 1/4" - Schwed, Jr. is well aware that the "reasons" people do things in the market are not always rational in terms of earnings, yields, and projected estimates of future production. He pricks the pomposity of the pot-bellied prophets by taking a hard look at the way people really act in Wall Street, not the way some theoretical "economic man" should act. He strikes some very canny observations on the underlying motives of investors, their hopes and fears, "How they know what they know," and how they can stumble into the same old traps and pitfalls that entrapped their fathers and grandfathers in times past. This book is good reading. it is funny. It would be funny even without the strong support of Peter Aron's illustrations. It also suggests some of the semantic and psychological problems that are part and parcel of the market.