In 1903, a Detroit lawyer by the name of Horace Rackham had his neighbor ask for his services in drawing up the incorporation papers for his new business. The cost was supposed to be $25, but the cash-strapped client asked if Rackham might be willing to invest in the company instead. Rackham had always been cautious with his finances and leery of the speculative nature of the stock market, but decided to trust in his neighbor. So, Horace went to the Michigan Savings Bank to inquire about a loan so he could buy stock in the client's new company. The bank decided to lend him the money but warned Rackham that it wasn’t sure his investment was sound. The bank president told Rackham, “ The horse is here to stay, but the automobile is only a novelty—a fad. ” Against that advice, Rackham took out the loan and invested in 100 shares of his neighbor Henry Ford's new business. That choice would work out for him. 18 years later, he would sell that stock for 12.5 millio...
The Preacher sought to find delightful words and to write words of truth correctly.