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Learning From the Most Ruthless Robber Baron (Jay Gould) | Greg Steinmetz
Forward Guidance
The Importance of Leverage
Gold bought some physical gold as well, but he also bought futures and the key feature of many futures is that you can put leverage. He kept buying enough gold to keep the price aloft and never got a margin call. After the gold market blew up, there were laws passed against doing that and that opportunity disappeared. But yeah, that was an opportunity that existed at the time and he explored it.
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