This lot is closed. Bidding ended on 12/12/2013.
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). The letter is dated December 9, 1929; just weeks after the Great Stock Market Crash that signaled the beginning of the Great Depression. The two-page letter, along with an 8” x 10” photo of Cobb, has been framed and matted to measure 33-¼” x 18-½”. 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”, with the signature rating a 9. As a footnote: If Cobb hadn’t donated a large portion of his Coca-Cola shares to build the Ty Cobb Health System which operates eight full service hospitals and care facilities throughout Georgia; it is estimated that his Coca-Cola fortune today would be worth more than $2 billion dollars! 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 with 892 stolen bases and is 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. The letter is in EX-NM condition and is accompanied by a full LOA from JSA.