OIL: The Great Hunter

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In the great gamble of oil, one of the world's biggest winners is a chance-taker named Alfred Jacobsen. His rule for success is simple: "If you don't want to take risks, you can't make money. If you haven't the courage to lose, stay out of oil."

Jacobsen, a tall (6 ft. 1 in.), spare man with a lined, ascetic face, bright brown eyes and explosive energy, has the courage to take big risks, and when necessary, the courage to lose. But he wins far oftener than he loses. He wins because he...

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