Thursday, March 26, 2009
Investment Banking Explained! -from Anon.
Young Chuck moved to Texas and bought a donkey from a farmer for $100.�
The farmer agreed to deliver the donkey the next day.�
The next day the farmer drove up and said, 'Sorry Chuck, but I have some bad news, the donkey died.'�
Chuck replied, 'Well, then just give me my money back.'�
The farmer said, 'Can't do that. I went and spent it already.'
Chuck said, 'OK, then, just bring me the dead donkey.'�
The farmer asked, 'What ya gonna do with a dead donkey?�
Chuck said, 'I'm going to raffle him off.'�
The farmer said 'You can't raffle off a dead donkey!'�
Chuck said, 'Sure I can.. Watch me. I just won't tell anybody he's dead.'�
A month later, the farmer met up with Chuck and asked, 'What happened with that dead donkey?'�
Chuck said, 'I raffled him off. I sold 500 tickets at two dollars apiece and made a profit of $898.00.'�
The farmer said, 'Didn't anyone complain?'�
Chuck said, 'Just the guy who won. So I gave him his two dollars back.'�
Chuck now works for Morgan Stanley.
�
The farmer agreed to deliver the donkey the next day.�
The next day the farmer drove up and said, 'Sorry Chuck, but I have some bad news, the donkey died.'�
Chuck replied, 'Well, then just give me my money back.'�
The farmer said, 'Can't do that. I went and spent it already.'
Chuck said, 'OK, then, just bring me the dead donkey.'�
The farmer asked, 'What ya gonna do with a dead donkey?�
Chuck said, 'I'm going to raffle him off.'�
The farmer said 'You can't raffle off a dead donkey!'�
Chuck said, 'Sure I can.. Watch me. I just won't tell anybody he's dead.'�
A month later, the farmer met up with Chuck and asked, 'What happened with that dead donkey?'�
Chuck said, 'I raffled him off. I sold 500 tickets at two dollars apiece and made a profit of $898.00.'�
The farmer said, 'Didn't anyone complain?'�
Chuck said, 'Just the guy who won. So I gave him his two dollars back.'�
Chuck now works for Morgan Stanley.
�
