The Power of Storytelling

By Thomas Coyle, The Wall Street Journal

Lowenhaupt Global Advisors owes it all to nicotine.

You see, in 1908, when St. Louis attorney Abraham Lowenhaupt started  what his descendants now say was the first U.S. law firm specializing in  income-tax matters, there wasn’t much work to be had–in fact, Congress  didn’t OK the newfangled tax for another five years and another few  years passed before anyone started collecting it.

Fortunately, his brother co-owned a tobacco shop right downstairs from  Abraham’s office. In those days men gathered in tobacco shops to gossip  and argue. So whenever the other Lowenhaupt caught wind of a dispute  that might end up in court, he’d ask the fellow concerned to do him a  favor.  Read the rest of the article here.