Saturday, May 24, 2014

Sales Joke of the Day (May 24) Buy! Buy! Buy!

A stockbroker was cold calling about a penny stock and found a taker.  "I think this one will really move," said the broker.  "It's only a dollar a share."

"Buy me a thousand shares," said the client.

The next day the stock was at $2.  The client called the broker and said, "You were right, give me 5000 more shares."

The next day the client looked at his smartphone and the stock was at $4 per share.

The client immediately called the broker back saying, "Get me 10,000 more shares as soon as you can."

"Great!" said the broker.   "Will do."

The next day the client looked at his smartphone and the stock was now priced at $9 per share.  Smiling at what a great profit he had made in just a couple of days, he called his broker and said, "Sell all my shares!"

The broker replied, "To whom?  You are the only one buying the stock!"

Moral of the story.   True sales professionals know that if you sell only on hype and not true value, your customer base quickly disappears.   Second, be very wary of anyone on TV who says "Buy! Buy! Buy!"   If they were really that great at investing they would be doing it full time and would have no need whatsoever to do a TV show.  Three, there is a reason why people who sell stocks for a living are called "BROKErs."

"The social object of skilled investment should be to defeat the dark forces of time and ignorance which envelope our future."    -  John Maynard Keynes