This from the official Babe Ruth site
===================================
Perhaps the most famous moment in baseball history, and certainly of Babe�s career, came during Game 3 of the 1932 World Series against the Chicago Cubs. In 5th inning, after he had already hit one homer, Babe came up to bat. He ran the count to two balls and two strikes. Before Cubs pitcher Charlie Root hurled the next pitch, amid the heckling of Cubs fans, Babe pointed to the center field bleachers. Then he slammed what is believed to be the longest home run ever hit out of Wrigley Field, directly above the spot where he had pointed. This story has been as debated as often as it has been celebrated. Did he really call his shot, or was he simply pointing at the pitcher? The world may never know. However, to many fans this moment symbolizes the golden age of baseball. The Yankees went on to win the 1932 World Series, their third sweep in four years.
===================================
Read more!
http://www.baberuth.com/flash/about/biograph2.html