The joke behind the title has been retold many different ways over the years, but in Schwed’s version, a successful Wall Street broker named William Travers is admiring the many beautiful yachts while on vacation in Newport, Rhode Island. Each yacht he inquires about happens to belong to a broker, banker, or trader. He asks, “Where are the customers’ yachts?” Nearly 75 years have passed since this story was first published, but it could have been written yesterday!
