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Learning From the Most Ruthless Robber Baron (Jay Gould) | Greg Steinmetz
Forward Guidance
The Rise and Fall of the Railroad Business
Greg Gould: It's easier to sleep the night if you own a company that doesn't have a lot of leverage that generates cash. The railroad business had some good characteristics and some bad ones, he says. "It needed a capital to grow on the other hand that created the modern Wall Street" He adds there was so much capital that needed to be put up upfront before a single dime gets made in terms of selling tickets.
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