Fred Chaney is a simple minded man whose mother died. She leaves him half of the brokerage company she owned with her second husband, Walter, whom Fred catches with another woman following his mother's death. He also throws Fred out of the house. And tries to buy his share of the business for a low sum. Fred is also left a horse named Don. And Fred learns Don can talk. Fred sends Don back to his family. Fred starts working at the company and is not doing well. But Don hears of deal and informs Fred about it and he buys the stock and makes a fortune. Don goes back to Fred and moves in with him and continues to gives him tips which helps him make him rich. Walter tries to find out how he is doing this so he sends his secretary to find out and she finds herself falling for Fred.