Re: OT - Long Shot Investment

Posted by Mark - IN. on January 02, 2005 at 19:45:01 from (205.188.117.7):

In Reply to: OT - Long Shot Investment posted by Dug on January 01, 2005 at 22:16:50:

Some years ago when did phones at a major exchange floor in Chicago, had a neighbor that was a security officer on the same trading floor. Security officers were some of the lowest paid employees there, but the guy got to know some brokers. One day in the late eighties or early nineties I saw the guy leaving for work to secure brokers and the exchange's interests, and the next time I saw him, he was coming home in a stretch limo to pickup his family (parents, sister, whomever else). I asked the guy what in the world? He got a tip from a broker that Mexico's state run telephone company (TelMex or MexTel or something like that on Nasdaq) was going public the next day, and talked him into investing his life's savings, like $5,000. Yep, it went public alright, opened at a penny or two a share, and closed at about $1.10 a share the first day. Never know how these things are going to turn out. And, the guy and his family were of middle-eastern descent, and maybe went back home and bought a bunch of oil wells in Iraq that got blownup years later too - I don't know, never saw him again after that day. Yep, never know how these things might turn out.

Mark

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