Online Shopping Behaviour: Women vs Men

Here’s a guest post and infographic from Ecommerce-Platforms.com

Online shopping behaviour: women vs men. Are we that different?

Did you know that men are more likely to research products before buying online, while women are more receptive to other people’s opinions?

It’s facts like this that drive sales for online businesses who choose to segment their marketing messages and promotional materials, since although some of the trends overlap, women and men are actually quite different in how they absorb information online and how they choose to purchase products and services.

Created by Ecommerce Platforms, this infographic explores how men and women shop online. The results are rather eye-opening considering you may never have known that women require chat features, discussion forums, visuals and customer reviews, while men need detailed product descriptions, feature comparisons and customer reviews in order to make an educated purchase decision.

From online stores who sell running shoes to shops that promote cleaning services, the details in this infographics are helpful for reevaluating how your business approaches towards people of different sexes. It’s easy to make assumptions about how customers respond to your website, marketing messages and product pages, but what is it about their innate tendencies that make their minds tick online? It’s easy to simply group men and women in the same boat to save time and effort, but how is this affecting how your customers feel about your relationship with them?

Do your customers feel neglected, like a mere number that your company pushed through the sales process to put money in your pockets? Customer segmentation is a pivotal key in unlocking customer happiness, and this infographic is a wonderful place to start.

 Online_Shopping_Behavior

Winning The Loser’s Game Book Review

Winning The Loser's Game Book Review

Can you win the loser’s game?

Winning the Loser’s Game, by Charles D. Ellis CFA, shares “Timeless Strategies for Successful Investing.”

Winning The Loser’s Game is a great finance and investing book. I discovered this book by listening to the Masters in Business podcast on Bloomberg Radio, hosted by Barry Ritholtz. The author, Charlie Ellis, was a guest on the podcast. And…

Since I really liked what I was hearing, I thought buying Winning The Loser’s Game (6th edition), would be a good next step. So in this book review, I’ll tell you why I’m glad I made this decision. Plus…

You’ll also learn exactly what this book is about, so by the time you’re done reading this review you should be able to confidently decide if this is the right investing book for you. Sound good?

Now let’s get down to business.

Summary of Winning The Loser’s Game:

Winning the Loser’s Game is a classic guide to winning on Wall Street. And if anything, this book is even more relevant today, than when it was first published in 1998. This updated edition also helps investors apply the advice in a contemporary manner. It also reinforces the initial findings. by proving they’re standing the test of time. So let me tell you what you should expect.

First off, Winning The Loser’s Game explains exactly what a loser’s game is. The premise is simple: loser’s games are those that you win by avoiding mistakes, rather than taking a positive action. Think about golf, or amateur tennis. In those sports, most of the time the winner is the person who makes the fewest mistakes.

So how does this apply to the stock market?

Ellis argues in Winning The Loser’s Game that over the last 10-20 years, professional investing has become a loser’s game. It wasn’t always that way. But now there are so many intelligent professionals studying so hard, that trying to outperform the market has become a loser’s game. And to make matters worse, avoiding mistakes isn’t easy!

So what’s an investor to do? Well, luckily Winning The Loser’s Game doesn’t just talk about the challenge facing today’s stock market investor. The book also proposes a new way of thinking about the markets and the steps you can take to turn investing into a winner’s game. So how does it work?

The main thrust of Winning The Loser’s Game is that instead of trying to beat the market, you should make the market work for you. You can do this by carefully defining your investing (or retirement) goals. That’s the most important step. In order to win, you need to define what winning looks like for you!

Then, based on your risk tolerance, conservative expectations of returns and passive low-fee asset allocation you can build a diversified portfolio that will get you where you need to be. Make sense?

Ellis really tries to hammer home the point that asset allocation, realistic expectations and understanding your risk tolerance (or being able to stick with your long term plan) are the key to making investing a winner’s game.

Of course, the book covers all of these topics in compelling detail. So you get a much more convincing discussion of the issues than I’ve managed to summarize above. But hopefully this gives you a taste. Now before we wrap up this section, you should know…

Winning The Loser’s Game is also very well written. It’s concise, reads quickly and is to remember. As you probably know, some finance books can be quite boring. That’s why I like to give extra points to those that are easy to understand and a little entertaining. So are you getting hungry to read this book yet?

Well, hold on a second. We still haven’t gotten to my favourite part of this book. Do you want to hear it?

The Best Part About Winning The Loser’s Game:

If you ask me, the best part about Winning the Loser’s Game is the way it reframes a lot of common issues. In a lot of ways, it’s very similar to A Random Walk Down Wall Street. But Charlie Ellis’ book explores this tired topic from a refreshing angle.

To be honest, I like the way Winning The Loser’s Game is upfront about how hard consistent outperformance by active management is. Ellis doesn’t deny the facts. But he also gives hope and provides a compelling and actionable roadmap for how, even without beating the market, you can use investing savvy to achieve everything you’d ever need to have a rich and fulfilling life.

Of course, as someone who runs a blog about stock ideas, you have to expect I have some bias towards active investment management. But even with this outlook, I still really appreciated how this book broached this perennial debate.

Now before we finish this book review, I just want to say:

Usually at this point in my investing book reviews, I try to find something negative to say about the book I’m reviewing in order to provide you with a balanced perspective. But in the case of Winning The Loser’s Game, I really can’t complain. The book is smart, focused and communicates the compelling message clearly. Hard to argue with that, right?

Winning The Loser’s Game – The Final Word:

By now, you are probably getting the feeling that Winning The Loser’s Game is a book worth reading. And if you have a serious interest in investing, you’re probably right to check it out. I’d also like to re-emphasize that the author of the book is also an incredibly successful investor who you can certainly learn from. For these reasons, I recommend checking out Winning The Loser’s Game on Amazon today.

On the other hand, if you’re still a little unsure about whether or not Winning The Loser’s Game is the right book for you, I encourage you to check out the video book review below. This should give you even more great information on Winning The Loser’s Game.

Winning The Loser’s Game – Video Book Review

Winning On Wall Street Book Review

Winning On Wall Street Book ReviewWinning on Wall Street by Martin Zweig Martin Zweig shows you How to Spot Market Trends Early, Which Stocks to Pick, and When to Buy and Sell for Peak Profits and Minimum Risk.

I’ve been meaning to read Winning on Wall Street for a long time. So I’m glad to finally share this book review with you. Here’s what you can expect:

First, I’ll give you an overview of the book, as well as what I liked and where I would have liked a little more. Then, we’ll wrap things up. And for good measure, I’ve also thrown in a video version of the book review at the bottom of this post. Sound good?

By the time you’re done reading this book review, you should have a great idea of what Winning On Wall Street is all about. And hopefully you’ll be able to decide if this is the right book for you. Now let’s dive into it.

Winning On Wall Street: What It’s All About

With a title like that, Winning on Wall Street sure promises a lot. And let me tell you, it delivers. But first, let me tell you about the author for a second…

For those of you unfamiliar, Marty Zweig was a Wall Street legend. His newsletter, Zweig Forecast, was one of the most well-regarded services that truly stood the test of time. He was also famous for publicly calling the 1987 crash the Friday before it happened. So what could be more insightful than a look inside his head, right?

And that’s what Winning on Wall Street delivers. In the book, Zweig shares his market timing indicators and models for determining when to go long or short stocks. He explains how to get in early on a bull market and where to raise your stop-loss order along the way.

And hey…

You might not know this but, Martin Zweig was the first guy who really came out saying “Don’t Fight the Fed.”  And so the book starts with his monetary models for determining market exposures. From there, Zweig moves on to his next mantra; “Don’t Fight the Tape,” which explains what market momentum and performance indicators he used to time his buying and selling in the stock market.

So basically, by the time you’re done reading Winning on Wall Street, you’ll have a good grasp of how Martin Zweig, one of the world’s most respected investors, approached the stock market.

But that’s not even the best part.

My Two Favourite Parts of Winning on Wall Street:

There was a lot to like about Winning on Wall Street. But for me, two parts stood out most. And one part, stood out more than the other.

Let me explain:

The first thing I really liked about Winning on Wall Street, was that Zweig mentions stock fundamentals. He doesn’t talk about it much. And it’s not the main focus of his book, whatsoever. But when you’ve read as many fundamentally-focused investing books as I have…

Well, let’s just say it was validating for me that Zweig mentions he prefers to apply his approaches to stocks that are on strong fundamental footing. I also appreciate this hybrid approach that puts all the odds in your favour. So it was nice to see Zweig shared it too, however briefly.

Now, the other thing I really liked about Winning on Wall Street is…

The book is a clear proponent of mechanical and rule-based tactical asset allocation models. In general, I’m a big fan of this approach. I think it eliminates human cognitive errors and biases. The book explains how to systematically use stop losses and how to define your exposure to the market. I really like this consistent approach to stock trading.  And when used in conjunction with the proper trading psychology (see Trading in the Zone), it can be a very powerful approach to potential outperformance.

While I’m skeptical about a few of Zweig’s indicators, he admits the book was but a glance at his investing methodology. So I’m sure there’s much more to it. And that leads me to my next point…

Was Winning on Wall Street Too Short?

I really liked Winning on Wall Street. And at about 250 pages, it wasn’t short by most people’s definition. But the book was certainly digestible. Now I hear what you’re saying…

Usually a readable book isn’t a bad thing. But in this case, I just wish there was more information to soak up. I would have loved to learn more about some of the newer indicators Zweig was

Alas, this is all we have. So…

Winning on Wall Street – The Final Word:

Winning on Wall Street is a great summary of the investing legend Martin Zweig’s approach to the stock market. And for that reason alone, I think it’s worth picking up a copy of Winning on Wall Street on Amazon.

But if you’re still a little unsure if this is the book for you, just watch my video book review of Winning on Wall Street below.

Winning on Wall Street – Video Book Review:

History of Commerce Infographic: From Cattle to Bitcoin

Can you imagine a world where you couldn’t go online and order a pizza with just a few clicks of a button? What about not being able to order your favorite books on Amazon or collect your freelance design fees through a service like PayPal?

The world wasn’t always right at our fingertips. In fact, people used to trade items like cowry shells and leather money to conduct business. Even further before that, in 7000 BC, the only item you were really able to barter with was whatever cattle you owned. A cattle collection certainly won’t fit in your wallet, and there wasn’t any savings account for you to just put away your cattle and come back to them whenever you wanted.

Commerce has evolved in miraculous ways, so Ecommerce Platforms compiled every crucial step in the process, from cattle trades to mobile payments, and guide you through a little history lesson with the infographic below.

History of Commerce

What Was the First Online Transaction?

Each of the landmarks throughout the 11,000 year history of commerce serve as a reminder of just how quick things have turned us onto a digital world, where all of our money is stored in accounts and this money is transferred through servers and seemingly magical portals that send away our money and return with goods and services.

All of this led up to the wonderful world of online business, where you can even order a car or house online. Heck, millions of people even find love online. But what was that first online transaction?

Pizza hut is known for claiming the crown, since in 1994 the company sold a single pie to one lucky customer who was able to skip talking to someone on the phone. A few years after this claim surfaced, researchers began fact checking and seeing if the Pizza Hut claim was in fact true. Well, it turns out the company might have been a little late to the punch.

Critics claim that Sting’s album “Ten Summoner’s Tales” was actually being sold online to thousands of customers just a few weeks before that Pizza Hut transaction occurred. Regardless of who you believe, the truth arises that these online exchanges led to something huge. Now, millions of companies are conducting business online, and people no longer have to give cash to a cashier at a store anymore. They can simply log onto their computer and get their grocery, clothing and computer shopping done, all without leaving their desk at work or home.

What’s the next big thing to add to the history books in terms of commerce? Share your thoughts in the comments section.

Millennial Money Book Review

Millennial Money Book Review

Is Millennial Money the right book for you?

Millennial Money, by Patrick O’Shaughnessy, explores how young investors can build a fortune.

And in this book review, you’ll learn everything you need to know about Millennial Money. So by the time you’re done reading, you should know for sure if this is the right investing book for you. Sound good?

But I bet you’re probably wondering…

The reason I bought this book was because I heard the author on the Masters in Business Podcast, hosted by Barry Ritholtz. The investing methodology that O’Shaughnessy shared in that interview was enough to make me buy the book. And I’m glad I did.

So let me tell you why.

A Summary of Millennial Money:

Millennial Money is a best practice guide for young investors. But even if you aren’t in your 20s, you can learn a lot from the investing wisdom in this book. The book covers a lot of ground, but it does so in a logical and easy to understand way.

Specifically: Millenial Money tells you to get started, be different, and get out of your own way.

Here’s what that means:

Millennial Money starts out by talking about the importance of investing. It builds a case for saving your money and investing it in the stock market. The book uses compelling data and insightful analysis to show that young investors do have an investing edge. But it doesn’t stop there.

Next, Millennial Money discusses the value of low-cost indexing. And then it goes a step further. I was happy to see the book challenge the myth of the efficient market. It explains that for those who are seriously interested, you can out-perform the market by being different.

The great thing about Millennial Money is that it gives you a very actionable framework to help you find your own investing ideas that can drive long term portfolio outperformance. What’s not to love about that? The book actually spends quite a bit of time analyzing different approaches to investing in a simple way that most people can understand.

Finally, Millennial Money dedicates a couple chapters to getting out of your own way. This means avoiding the emotional pitfalls that come along with investing. The book recommends a rules-based strategy that controls your stock buying and selling decisions. I personally tend to agree.  So…

Now that you know a little more about Millennial Money, let me tell you my two favourite parts.

The Two Best Parts of Millennial Money:

Millennial Money was a really great read. But for me, there were two parts that stood out most.

  1. Millennial Money was incredibly actionable! I very much appreciated the way this book was written. It’s simple and straight to the point. And that translate into actionable information that the average person can easily put to use. Sounds good, right? The book even has a Millennial Money checklist that tells you exactly what to look for in stocks and when to buy and sell them. I
  2. The second best thing about Millennial Money is that the book is filled with data. You can have faith in the Millennial Money strategy because it’s the result of near-endless analysis and backtesting. I appreciate this quantitative approach and think it makes sense for investors to be objective in managing their portfolios.

The two factors above helped me get more out of Millennial Money. But you should know they’re just the tip of the iceberg. The book is packed with information and anecdotes that make it both engaging and educational. It’s easy to read and you can definitely get through it on your commute without compromising understanding.

So by now you’re probably wondering, does this book have any drawbacks?

Millennial Money – A Single Weak Spot?

I’ve been trying to find something bad to say about Millennial Money; but to be honest, the book is really quite good. It introduces a compelling approach to investing that should appeal to an entire generation.

Millennial Money also provides a list of additional recommended reads. I always like when authors provide more material for readers who are especially voracious in their information appetites.

To be sure, I should clarify that Millennial Money isn’t a technical analysis system or stock trading strategy. It’s an investing framework that can help you snowball your money for years to come. There is definitely an active management component but it’s not a fast moving day trading approach to markets. Make sense?

Okay, I think you’re getting a good picture of Millennial Money let’s finish this book review.

Millennial Money – The Final Word:

Millennial Money was an incredibly enjoyable read. It was educational and actionable, without being overwhelming. What more could you ask for in an investing book? For those reasons alone, I recommend you buy it on Amazon (unless you can find it cheaper somewhere else!)

And hey, if you’re still on the fence about this book, why not check out the video book review below. This’ll give you even more insight into the value of Millennial Money.

Millennial Money – Video Book Review:

A Short History of Financial Euphoria Book Review

A Short History of Nearly Everything Book ReviewA Short History of Financial Euphoria by John Kenneth Galbraith is a classic investing book that highlights the most exuberant moments in financial history.

So in this book review of A Short History of Financial Euphoria I’ll tell you everything you need to know. That way, you can decide for yourself if this is the right investing book for you.

And to be honest, I can’t actually remember how this book came up on my radar. But it had been lingering in my Amazon shopping cart for awhile so I finally pulled the trigger. And I’m very glad I did.

Read on to learn why.

What “A Short History of Financial Euphoria” is All About:

A Short History of Financial Euphoria is exactly what it sounds like. For starters, the book is short! It comes in at just over 100 pages. And the font size is pretty big too. You can easily finish this book in a day. So if you’re intimidated by encyclopedia-size texts, then A Short History of Financial Euphoria could be right for you

But just because it’s short…

Doesn’t mean this book isn’t valuable! The author does a fantastic job recounting all the famous market bubbles over the years: from Tulipmania onwards. But this financial history book also does a great job of helping you extract invaluable lessons from the annals of time.

For example:

A Short History of Financial Euphoria starts out by introducing the concept of bubbles. Galbraith explains that when (1) “a new era” and (2) excessive leverage combine with (3) the arrogant intelligence and ambition of capitalists, we are headed for a euphoric blow-off top that is sure to collapse.

A Short History of Financial Euphoria also notes that, for the most part, really big bubbles tend to be 30-40 years apart. The author observes bubbles are more likely to form when a new generation starts making the decisions, and consider themselves too smart to make previous mistakes.

From there, the book profiles a series of classic bubbles. Each chapter explores a euphoric market rise. Again and again the book illustrates the forces that inflate, and inevitably pop, the bubble in question. And the author really does you a favour by pointing out the fatal flaws in play, which is valuable.

The other neat thing about this book is that it has stood the test of time. The author was born (in Canada!) in 1906. And he lived through a number of bubbles himself. The original version of A Short History of Financial Euphoria was published in 1990 and the version I’m reviewing was published in 1993.

But there’s another part of this book that’s worth talking about too…

The Best Part of A Short History of Financial Euphoria:

I think my favourite part of A Short History of Financial Euphoria was the humour. I read the book in a couple of hours, not only because it was short. But because once I started reading I couldn’t put it down. I can’t put my finger on it…

But this book was a hilarious read. Maybe it has to do with making fun of how people consistently lose their shirts on absolutely absurd speculations. Regardless, you’re sure to chuckle along and shake your head. Seriously!

The book was fast-paced, well-written and absolutely entertaining. The author’s tongue is firmly planted in-cheek. It’s always nice when finance books aren’t an academic tome (in contrast to Security Analysis). Especially as the summer months come upon us, a quick and easy financial read is always nice to have at hand. For this, A Short History of Financial Euphoria fits the bill perfectly.

For More Financial History:

The one drawback of A Short History of Financial Euphoria is that it’s so short. The book doesn’t dwell too much on the details of each financial crisis, panic or depression. Instead, the book flits from one disaster to the next connecting the common causes. I think this approach is effective. But I imagine there are some readers who’d want a little more.

And actually…

Most of the juicy details in A Short History of Financial Euphoria are excerpts from another book that I’d previously reviewed. So for readers that really want to dive deep into the psychology of crowds, bubbles, and panics you will want to check out Extraordinary Popular Delusions and The Madness of Crowds, by Charles Mackay.

Where A Short History of Financial Euphoria comes up short, this book fills in the blanks. That said, I still the former is probably more than enough for most people. Make sense?

Great, now let’s draw this book review to a close…

A Short History of Financial Euphoria – The Final Word:

A Short History of Financial Euphoria is a really great book. It’s quick, easy and fun to read. What more could you ask for, right? Well, for those reasons and many more I encourage you to pick up this book on Amazon.com today.

If you’re still feeling a little unsure, you might also want to check out the video book review below. I shot the video right after finishing the book so take a look to get my immediate impressions.

A Short History of Financial Euphoria – Video Book Review:

Manual of Ideas Google Talks

Long time readers will remember my Manual of Ideas book review. So I thought you might also be interested in the video below. It’s a Google Talk from Manual of Ideas author John Mihaljevic, on the secret to finding great investing ideas.

So if you’re a value-focused investor looking to learn something this slow Sunday morning, why not check out this educational video below:

And of course, if you’re still curious about finding value investment ideas then you might want to see if Manual of Ideas is the right investing book for you.

As a reminder, here are a few more Google Talk videos that equity investors might find interesting:

 

Confronting Capitalism Book Review

Confronting Capitalism Book Review

Is Confronting Capitalism the right book for you?

Confronting Capitalism by Philip Kotler proposes “Real Solutions for a Troubled Economic System.”

So in this book review, I’ll tell you all about Confronting Capitalism, and what you should expect if you decide to read this book. I’ll tell you my favourite parts and any areas where there’s a little room for improvement. Plus you’ll discover why this book is easy to understand and a worthwhile read. Sound good?

But first things first…

I should thank the good people over at FSB Associates for sending me a copy of the book to review. I am always happy to find new finance books, and this is no exception. Now let me tell you a little more about Confronting Capitalism.

 

Summary of Confronting Capitalism:

This book, Confronting Capitalism, is exactly what the title suggests. The book is all about looking at the prevailing capitalist system and being honest about where it comes up short. Now to be clear, the author is by no means a communist or someone who overly apologetic for capitalism. But he is realistic that the existing situation isn’t perfect. It’s kind of refreshing.

Confronting Capitalism dedicates one chapter to each of the 14 major shortfalls of capitalism. Most of the issues in each chapter are probably things you’v heard of before, which makes the book quite easy to understand. Things like rising income inequality, environmental exploitation and the “financialization” of American industry are byproducts of our current capitalistic system. And they aren’t exactly positive end results either.

But Confronting Capitalism doesn’t stop at the problems. At the end of each chapter, the author proposes potential solutions, workarounds and strategies to improve our capitalist model. So suffice it to say, when you read Confronting Capitalism you get a high-level view of capitalisms short-comings, and an actionable roadmap to improvement.

Now that reminds me…

The Best Part About Confronting Capitalism:

After giving it some thought, I realized there’s one thing Confronting Capitalism does particularly well. In contrast to other books that criticize the current state of our economic system (The Great Deformation comes to mind), Confronting Capitalism goes a step further.

I really appreciated how the author of this book decided to include suggestions for improvement. That’s because it’s incredibly easy to criticize our existing situation. Anybody can play the blame game. But it takes another type of thinking to sit down and propose ideas to help us move forward (even if they aren’t all absolutely perfect).

I very much enjoyed how Confronting Capitalism starts at the present and looks for realistic ideas for improvement. And since the book is relatively short, the author is forced to be focused and concise when writing about his ideas to improve capitalism. And aside from the fact that you might disagree with some of the solutions proposed in the book, I think anyone can appreciate the constructive nature of drawing attention to these issues and trying to build on them.

Of course, there’s a flip side to this coin…

Is Confronting Capitalism too Simplistic?

Some readers might be skeptical of the idea that can capitalism can be improved upon. But I (perhaps, naively) believe it can. And I think books like this are an important part of the dialogue. The book is well-written, to the point and focused on a clear message. You can’t ignore the points it makes.

The only criticism I foresee from readers is that the book is a little bit simplistic. To be honest, I don’t mind this approach because curious readers can easily research issues they want to learn more about. And it makes Confronting Capitalism an effective primer on the issues at hand.  It’s easy to get started reading this book and once you start you’ll be compelled to finish. So for these reasons, I think the pros of simplicity outweigh the cons. Make sense?

Now let’s finish up this book review…

Confronting Capitalism – The Final Word:

Confronting Capitalism is an interesting and timely book that provides a great overview of the issues facing capitalism. For anyone looking to get up to speed with these issues, I recommend buying Confronting Capitalism on Amazon today.

If you’re still a little unsure, you can also watch the video book review below, to get even more information about Confronting Capitalism and whether or not it’s the right book for you.

Confronting Capitalism – Video Book Review:

conference call investing narrative

Investing on Conference Call Narratives

As an investors, conference calls can be one of the best tools at your disposal. They’re that relatively rare opportunity where you get to hear straight from the mouths of management. And for me personally, conference calls (and their transcripts) have been essential part of my investment due diligence.

Let me tell you why.

Forget about speculative news headlines and unfounded rumours. Conference calls typically allow you to get the truth, straight from the source. It’s an incredibly easy way to get yourself up to speed on the key initiatives your portfolio companies are undertaking. And it allows you to judge for yourself whether or not analyst estimates are founded in fact or fiction.

In other words…

Conference calls offer you important insight on how the investment narrative. And, at least in my humble experience, there are a couple of reasons this story arc is worth paying attention to.  The reason is, when you understand the consensus narrative about how a company is doing, you can start to determine whether it is undervalued, over-valued, or just about right.

For example, in the Investment Checklist and The Art of Value Investing, the authors explain you ned to know what the street thinks (consensus narrative), so you can determine if your “variant perspective” is valid, or if it’s been discounted by the stock market already. Only then can you start to have some confidence in your value investing thesis.

So basically… if you want to do some second-level thinking about your stocks, then conference calls are a great way to help you ask the right questions. They can really help you see what the analyst community is expecting. And it’s how you can start to understand what’s “priced-in” to your stock at the current market cap that you can really start having investment insights.

It’s for those reasons, that I think conference calls are some of the best investing resources you can find. And best of all, they’re free!

So head on over to Seeking Alpha or ConferenceCallTranscripts.org to get up to speed on the latest conference calls for your favourite companies.

Happy earnings season!

Where Are The Customers’ Yachts? Book Review

Where Are The Customers' Yachts Book ReviewWhere Are the Customers’ Yachts?, by Fred Schwed Jr. provides “A Good Hard Look at Wall Street.”

Where Are The Customers’ Yachts? was first published in 1940, and has been re-published three times since. And by the way, if you aren’t impress by the 75-year track record, you might find this interesting:

On the bottom of page 6 of the 2014 Berkshire Hathaway Annual Report, Warren Buffett calls Where Are The Customers’ Yachts?, a “wonderful book.” And in this book review, I’ll tell you why.

But that’s not all…

When you’re done reading this post, you’ll also know what “Where Are The Customers’ Yachts?” is all about. And I’ll be sure to share my favourite parts, where the name of the book comes from and everything else you need to know in order to decide if Where Are The Customers’ Yachts? is the right book for you. Now let’s get into it…

Where Are The Customers’ Yachts? – The Title Explained:

Where Are the Customers’ Yachts? is an unusual title. And before we get into what the book is all about, it’s important you understand these first five words. In this book more than most, the title really sets the stage for the book. So here’s what it’s all about:

Where Are The Customers Yacths Book Summary

The title of Where Are The Customers Yacths explains it all…

Make sense? The idea behind the title is that, if everyone on Wall Street is so rich, why aren’t their customers rich too? You should always be skeptical of someone who’s making money when their customers don’t seem to be going anywhere. Now that the title is out of the way, let me tell you what this book is all about…

Where Are The Customers’ Yachts? Is a Skeptics’ Guide to Wall Street:

Where Are The Customers’ Yachts? is a fantastic book. And it’s even written by an ex-Wall Streeter. But this broker-turned-author isn’t exactly an ode to high finance. In fact…

Where Are The Customers’ Yachts? is a skeptical look at the investment industry, and the implications for the everyday individual. It raises critical questions and identifies myriad causes for concern. The book covers everything from financial forecasting, to mutual funds, to short selling and much much more. The author highlights all-too-common missteps and expensive mistakes that are lurking just around the corner.

But that’s not even my favourite part…

The Best Part of Where Are The Customers’ Yachts?:

To be honest, even though Where Are the Customers’ Yachts? is a great finance book for traders and investors, the best part of the book wasn’t even about investing. Instead…

The best part of Where Are The Customers’ Yachts? is the humour! Seriously: this book is hilarious! Once I started reading it, I couldn’t put it down. Once I heard what the author had to say about fat cat investment bankers, I was dying to hear what he had to say about options, finance reform and retail investors.

The book reads incredibly well. It’s pretty short and the font is big. But the author’s words really make the pages wiz by. There are also some smile-worthy cartoons included in Where Are The Customers’ Yachts? that really hit home the key points. And let me just say…

The hilarity of this book really adds to it’s value as a finance book. The truth is, because the content is so engaging and entertaining, it really helps you remember it. So I’m not just saying you should buy this book if you’re looking for a laugh – just that it’s another added bonus and probably another reason this book has been so popular for so long.

At this point, I usually find something critical to say about the book I’m reviewing. But in this case, there really isn’t much to criticize. The book isn’t a financial analysis text book, that’s for sure. On the other hand, it’s a memorable and concise account of what you need to be aware of when you’re thinking about what to do with your savings.

So with that in mind, let’s wrap this up…

Where Are The Customers’ Yachts? – The Final Word:

Where Are The Customers’ Yachts? is an amazing book that has been published again and again as the years go by. Although the cover might get updated, and a new introduction or preface is added, the original timeless wisdom remains the same. And you don’t want to miss it. For those reasons, I definitely recommend you buy Where Are the Customers’ Yachts? on Amazon.

But no pressure. If you’re still a little unconvinced, check out the video book review below for even more information. Sound good?

Where Are The Customers’ Yachts? – Video Book Review: