HIGH FINANCE: How to Lose a Million

A brash and bushy-haired Kentuckian named H. Keith Williams breezed into Dallas two years ago, determined to break into the Big Rich. Williams, 23, son of a prosperous Louisville furniture manufacturer, announced to all who would listen that he was going into the oil business. True, he had only a $1,200 stake, but that did not faze him. Said he: "I've had experience in road construction and furniture manufacturing, and there's a lot in common between those two and oil. They all use heavy machinery." That seemed to satisfy investors anxious to get in with a possible challenger...

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