is an investment plan for raising capital, devised in the 17th century and relatively widespread in the 18th and 19th centuries. It combines features of a group annuity and a lottery. Each subscriber pays an agreed sum into the fund, and thereafter receives an annuity. As members die, their shares devolve to the other participants, and so the value of each annuity increases.
It sounds gruesome, but essentially, it is a liquidating trust with no-or-few expenses. See a 1995 report on the TPL trust that turned out to be prescient.
TPL Annual Report 2016 Go to last page to see acreage map. Use Google Earth to go view the terrain, then search for oil and gas activity in the area(s)
More annual reports: http://www.tpltrust.com/annual-reports.html
Texas Pacific Land Trust discussion
Part of my search strategy is to look for the quirky, weird stuff.
|“The one who follows the crowd will usually get no further than the crowd. The one who walks alone, is likely to find himself in places no one has ever been.” — Albert Einstein|
What do YOU think?
PS: Weekend Reading
OMC_Omnicom_Singular_Diligence I wish for more brevity!