A man can sell acquisitions without knowing much about them. A conscientious salesman tries to enlarge his own knowledge of what he is selling, and to raise the standards of his customers. Turning to a quite different situation, a stockbroker or adviser can take in more fees if a customer buys and sells frequently rather than if he holds on to acquisitions for a long time. Advertisements and published articles on investing generally use arguments of the sort just described for salesmen.


Many people love to be associated with big names in whatever they do. A salesman working in an organization earns his income only by selling what his outfit offers. So naturally he is tempted to overload his customers with the items offered by his organization.

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