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August 24 - This Day in History


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Hurricane Andrew devastates South Florida

 

I made a bundle on Andrew. An oil stock, Mesa Offshore Trust - I bought 2,000 shares at 25 cents - had their Gulf platforms spared. They were able to sell their output at a huge premium to the big boys who had futures contract obligations come due.

 

I still own it; I have the 2K share certificate in my hand. It's something like 13 cents now, and the trust is being dissolved.

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