Bert not only forgave him but shook hands warmly with the high
financier. Naturally he hastened to find his friend and fellow-victim,
Hood, to impart the glad tidings to him. They were going to make a
killing. The stock had been tipped for a rise before and they bought.
But now it was fifteen points lower. That made it a cinch. So they
bought five thousand shares, joint account.
As if they had rung a bell to start it, the stock broke badly on
what quite obviously was inside selling. Two specialists cheerfully
confirmed the suspicion. Hood sold out their five thousand shares. When
he got through Bert Walker said to him, “If that blankety-blank blanker
hadn’t gone to Florida day before yesterday I’d lick the stuffing out
of him. Yes, I would. But you come with me.”
“Where to?” asked Hood.
“To the telegraph office. I want to send that skunk a telegram that
he’ll never forget. Come on.”
Hood went on. Bert led the way to the telegraph office. There, carried
away by his feelings--they had taken quite a loss on the five thousand
shares--he composed a masterpiece of vituperation. He read it to Hood
and finished, “That will come pretty near to showing him what I think
of him.”
He was about to slide it toward the waiting clerk when Hood said, “Hold
on, Bert!”
“What’s the matter?”
“I wouldn’t send it,” advised Hood earnestly.
“Why not?” snapped Bert.
“It will make him sore as the dickens.”
“That’s what we want, isn’t it?” said Bert, looking at Hood in surprise.
But Hood shook his head disapprovingly and said in all seriousness,
“We’ll never get another tip from him if you send that telegram!”
A professional trader actually said that. Now what’s the use of talking
about sucker tip-takers? Men do not take tips because they are bally
asses but because they like those hope cocktails I spoke of. Old Baron
Rothschild’s recipe for wealth winning applies with greater force than
ever to speculation. Somebody asked him if making money in the Bourse
was not a very difficult matter, and he replied that, on the contrary,
he thought it was very easy.
“That is because you are so rich,” objected the interviewer.
“Not at all. I have found an easy way and I stick to it. I simply
cannot help making money. I will tell you my secret if you wish. It is
this: _I never buy at the bottom and I always sell too soon_.”
Investors are a different breed of cats. Most of them go in strong for
inventories and statistics of earnings and all sorts of mathematical
data, as though that meant facts and certainties. _The human factor
is minimised as a rule._ Very few people like to buy into a one-man
business. But the wisest investor I ever knew was a man who began by
being a Pennsylvania Dutchman and followed it up by coming to Wall
Street and seeing a great deal of Russell Sage.
Public-domain text, read in full here on John Shaqi.
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