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TIP657: Morgan Housel's Lessons to Build Wealth w/ Clay Finck
We Study Billionaires - The Investor’s Podcast Network
Debt Dulls Durability
Japan hosts around 140 businesses over 500 years old, with some claiming to exceed 1000 years, showcasing exceptional resilience through various challenges. These enduring enterprises share key traits: significant cash reserves and zero debt. High levels of debt constrain one's capacity to manage future uncertainties, as reliance on favorable conditions leads to increased borrowing. In stable times, both individuals and businesses often accrue debt, mistakenly believing prosperity is perpetual.
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