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How investment banking works....
WTF?_2
Posts: 4,592 Forumite
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 he drove upand said, 'Sorry son, 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 him ?’
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 sold500 tickets at two dollars a piece and made a profit of $998.'
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 Goldman Sachs...
The farmer agreed to deliver the Donkey the next day. The next day he drove upand said, 'Sorry son, 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 him ?’
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 sold500 tickets at two dollars a piece and made a profit of $998.'
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 Goldman Sachs...
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Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.
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Comments
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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 he drove upand said, 'Sorry son, 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 him ?’
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 sold500 tickets at two dollars a piece and made a profit of $998.'
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 Goldman Sachs...
You have to admit, it's a pretty smart business model!0 -
Unfortunately for Joe Public, if we tried this we would fall foul of the Gambling Laws. One rule for one.....................:rolleyes:0
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