Smile of the Day

Life is getting much too serious, yes? Who doesn't need a daily smile?

Monday, September 29

An easy buck

An would-be investor had found a stock that looked intriguing: and at only $1 a share, he thought it was a risk worth taking. So he called his broker and had him buy a thousand-share block. Worst-case scenario, he would be out a thousand dollars. Best case ...

The next day, he was thrilled to discover the stock had risen to $2 a share. Happy to have guessed right, he at once called up the broker and had him purchase five blocks of a thousand shares each.

The next day, the stock had risen to $4. Ecstatic, he ran to the telephone and had his broker purchase a hundred more blocks of shares, taking out an operating loan to finance the deal: 100,000 shares in total.

The next day, the stock had risen to $9. "Great!" he shouted into the telephone. "Sell, sell, sell!"

"To whom?" asked the broker. "You were the only one buying that stock."


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