Easter Quote Week, Day 7…
On the 24th of April 1961, the famous American comedian Groucho Marx wrote a letter to the President of the Franklin Corporation, a company in which he had become an investor. The sardonic character of the letter gives us an insight into Groucho’s vibrant off-stage persona and proves that he was as brilliant a businessman as an actor.
April 24, 1961
Dear Mr Goodman:
I received the first annual report of the Franklin Corporation and though I am not an expert at reading balance sheets, my financial advisor (who, I assure you, knows nothing) nodded his head in satisfaction.
You wrote that you hope I am not one of those borscht circuit stockholders who get a few points’ profit and hastily scram for the hills. For your information, I bought Alleghany Preferred eleven years ago and am just now disposing of…
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