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LBYM by day, savy stock picker by night
Old 06-12-2010, 10:19 AM   #1
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LBYM by day, savy stock picker by night

Nice article about this little old lady who was a secret stock picker.

Verna Oller, little old lady and secret stock picker, leaves small town $4.5 million
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Old 06-12-2010, 12:36 PM   #2
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I've got the living cheaply part down. Still working on the stock picking part.
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Old 06-12-2010, 03:42 PM   #3
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Someone should give her a posthumous membership to ER.org.
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Old 06-12-2010, 03:47 PM   #4
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We really don't know if she was savvy, but we do know she was old. Perhaps she could've donated $20 million, but was not a savvy stock picker and lost most of it along the way.
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Old 06-12-2010, 03:50 PM   #5
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One of the stories about Verna Oller said her sister left her $600k in 1995 so that helped her nest egg a bit. The ~$3.5 million she left the town to build the pool was to cover building the pool and the town needs to figure out how to maintain it. Another article said Long Beach needed to decide if they could accept the gift or not. Guy Glenn is a local attorney and was evidently in charge of her estate as well as keeping her secret until she passed.

An article about her from the local paper -
Chinook Observer Weekly Newspaper

I grew up in a nearby town and my grandparents had a beach cabin on the North part of the peninsula. I never knew Verna, but she sounds like she was a pretty unique lady.

I just love stories like this.
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Old 06-12-2010, 05:12 PM   #6
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Originally Posted by LOL! View Post
We really don't know if she was savvy, but we do know she was old. Perhaps she could've donated $20 million, but was not a savvy stock picker and lost most of it along the way.
Good point. My uncle passed away when he was in his late 80's and left a multimillion dollar estate (but not to me ). It occured to me that he never actually retired until he was 80 years old and had been investing all the while, so it was much easier than it might have seemed.
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Old 06-13-2010, 12:13 AM   #7
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Originally Posted by powerplay View Post
One of the stories about Verna Oller said her sister left her $600k in 1995 so that helped her nest egg a bit. The ~$3.5 million she left the town to build the pool was to cover building the pool and the town needs to figure out how to maintain it. Another article said Long Beach needed to decide if they could accept the gift or not. Guy Glenn is a local attorney and was evidently in charge of her estate as well as keeping her secret until she passed.
How much does a swimming pool cost? This is a total guess, but I would have thought the town could build a really nice one for $2 million, and start a non-profit foundation with the rest of the money, to cover the operating and maintenance expenses.

Quote:
An article about her from the local paper -
Chinook Observer Weekly Newspaper
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Old 06-13-2010, 10:35 AM   #8
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We can't know her true return on investment, so we don't know whether she was a good stock picker or not. If she started investing at 20 (1940), she'd have had 70 years of compounding, and I'll bet she could have amassed $4.5 with conservative mutual funds.
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