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by mjklin
1758 days ago
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> Six decades ago, Fred Schwed wrote a book called Where Are the Customers' Yachts? The title came from a story about a visitor in New York more than a century ago. After admiring yachts Wall Street bought with money earned giving financial advice to customers, he wondered where the customers' yachts were. Of course, there were none. There is far more money in providing financial advice than there is in receiving financial advice. > The title is as relevant today as it was back then. There are few industries that pay themselves so much for doing so little as financial services. https://www.fool.com/investing/general/2014/02/21/where-are-... |
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