Most Read · Tuesday, October 29, 1929
Shoeshine Boy's Stock Tips Under Review
Regulators have opened a review into the stock tips of a local shoeshine boy, after several of his customers, all bankers, acted on them. Legend has it Joseph P. Kennedy got out of the market once his own shoeshine boy started offering advice, reasoning that when the shoeshine stand is bullish, the top is near.
The boy, reached at his stand, said he never claimed to be an analyst. 'I said Radio Corporation looked shiny,' he explained. 'I was talking about the shoes.' Historians note the tale is probably embellished. Everyone agrees on the shine, though.
Satire. For what actually happened, see the “What really happened” box in the full issue.