Kerry Packer RIP...

Australia's richest man, Kerry Packer has died aged 68. I met him a couple of times - I did a fair amount of business in Australia with him and the other "robber barons" of the Outback, Robert Holmes à Court and Alan Bond. They were colourful characters, to say the least. Robert was by far the "nicest" (though it is a relative term), though I was to have an unwitting part in his downfall during the 87 crash when his over-leveraged business failed. He never recovered and died suddenly just three years later, aged 53. Alan then contributed to some major changes in my life by going spectacularly bust at the expense of many of my (then) clients. Kerry was the most stable financially, despite his gambling addiction.

He was a "high roller" of the first order. His gambling was legendary and he was known to lose huge sums in a night at the tables (and to win big too). He was volatile and overturned blackjack tables were not uncommon. However, my favorite story was of him gambling alone at a high-stakes table in a casino. In walked a Texan, resplendent in ten gallon hat and boot-lace tie, a blond on each arm. Seeing another high-roller playing, he demanded that he be allowed to join. The croupier apologised profusely but said Mr Packer usually played alone. However, he asked Kerry if he'd mind if the Texan joined him. Kerry looked the Texan up and down and said "Nah, I'm playing alone."

The Texan, slighted in front of his lady friends, drew himself up to his full height and said, "Do you know who I am?! I am worth $100million and I demand to play on this table."

Kerry eyed him cooly and said "$100million? I'll toss you for it."

Enjoy...