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Ships to:
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Details about  Ty Cobb Handwritten 1929 Market Crash Stock Advice Letter

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Ty Cobb Handwritten 1929 Market Crash Stock Advice Letter
Item Sold
Item condition:
--not specified
Jul 13, 2013
US $12,500.00
Best offer accepted  
This item was listed in the fixed price format with a Best Offer option. The seller accepted a Best Offer price.
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Item location:
New York, New York, United States


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Item specifics

Autograph Authentication: Gotta Have It!  

Ty Cobb provides detailed stock market advice in this fabulous two page handwritten letter to famed sports agent and author Christy Walsh (who counted Babe Ruth and Lou Gehrig among his clients), dated December 9, 1929; just weeks after the Great Stock Market Crash that signaled the beginning of the Great Depression. In Cobb’s letter, written in black fountain pen on his own stationary Cobb writes, “Dear Christy” at first thanking him for what he did for a Coach whose record was 60W – 1L. Ty Cobb who became the first millionaire in professional sports primarily through his investments in many stocks, provides detailed stock advice to Walsh in his letter as follows, “Your Bethlehem is good…Gen’l Motors good and only auto stock I would invest in…I like General Foods…US Steel, Coca Cola….” Cobb writes further, “I never dreamed you (were) in market and I wish I had for I could have helped you.” Cobb adds that his own “stocks were bought real low…I bought heavy on the bottom & had to borrow money to buy…I have some stocks that pay 8 to 10%.” Cobb includes his opinion of President Hoover and makes suggestions concerning accounting and share ownership distributed amongst Walsh family members. Historians credit Cobb’s financial success primarily to his ownership of Coca Cola shares and more generally his tightness with money. As a matter of fact in light of Cobb’s espoused market success he writes in contradictory fashion near the end of his letter, “Thanks for check for I surely can use it.” Cobb signs off to his colleague, “Sincerely Ty Cobb.” Cobb is best remembered for his fierce style of play during his long career primarily with the Detroit Tigers. Cobb ended his remarkable career with a lifetime .367 batting average and 892 stolen bases and his counted as one of the greatest and most collected baseball players of all time. This written transmission to one of baseball’s most legendary agents and published literary figures from Cobb is fascinating and historically significant given the national events at the time and the financial claim to fame that Cobb shares with his Baseball Hall of Fame status.

Guaranteed to pass JSA (James Spence Authentication).

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