lol - the biggest one that got away was "WA Woolen Mills" - ok never heard of them??? - in 1970, watso bought 5000 of them at 20c per share. the full name of the company was called "west australian worsted and woolen mills (or something like that) - and they had wool processing factory in albany (from memory) .
watso was attracted to the company, because in 1969 (??), the company took an option over a silver prospect - and the shares zoomed in price - and the company made a good placement of shares at a very good price - but then the share price collapsed .
in 1974 watso sold the shares for about $1.70 - so not a bad profit. keep in mind that watso bought his first house for sub $10,000 in 1974.
in 1987, those very same shares (after share splits and bonus issues etc etc) would have been worth $3m - and all tax free, if watso had held onto them...but if watso had kept on holding them, they would have been worthless .
mmm $3m in 1987 would be worth a lot more in present day thinking - but even in historical cost terms, $3m would still be worth a lot today
WA Woolen mills took over a few small local companies - watso recalls a company called westate electrical, and then another company called tropical traders ( and maybe one or two other smaller local companies) - but then they targeted a large west australian company called "bell brothers" (or whatever the listed company was called) - Bell Brothers had a huge yard along great eastern hwy in redcliff - with plenty of trucks (maybe other machinery - but cannot recall).
eventually, this little company that had a wool processing facility in albany, made a play for BHP... and the man behind the company .. robert holmes le'court ... the company eventually was called bell resources (or something like that)
