Today's Important Advice Comes From ...

By Robert Wilonsky in Business News for People Who Don't Read Business News

Thu., Oct. 1 2009 @ 3:25PM

... William "Tex" Moncrief Jr., the Fort Worth oilman and Internal Revenue Service fan who comes in at No. 366 on Forbes' latest list of the 400 Richest Americans. So, what does the man in possession of 20,000 acres of undeveloped Barnett Shale property have to say in the magazine's 22-question sidebar? Just this.

You have $100 million to spend in real estate, what do you buy and where?

I would get within 60 miles of Dallas and Fort Worth, especially ranch land if you can find it. The second place is around Gunnison, Colo.