
If you ask me what company to invest in, on the stock market, I'd normally tell you none of them.
Back when Forbes magazine was worth paying a lot of money for - I got an ad today, begging me to subscribe for $10, and I discarded it - Malcolm used to talk a story about the new hire at the investment house.
The New Hire
It just so happened that the annual company outing fell on his starting day, so the boss grabbed the tyro and headed for the yacht club.
The boss introduced him to everybody, then took him for a walk, pointing to large yachts owned by various analysts, huge yachts owned by various brokers, and the largest yacht of all, belonging to the chairman.
"But where," asked the beginner, "are the yachts of all the customers?"
Steve Forbes Isn't Malcolm
Steve Forbes isn't Malcolm Forbes, his father, and Malcolm wasn't B.C. Forbes, his father. If you are familiar with Pearl Buck, it's like The Good Earth.