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#63 The King of Oil: The Secret Lives of Marc Rich
Founders
Long-term Thinking Leads to Success
Long-term thinking is crucial for success and wealth according to Rich, as it allows for actions that listed companies may find challenging. Traditional family businesses often excel in this aspect by focusing on future generations. Rich's success is attributed to his long-term mindset, evident in his focus on securing long-term contracts with clients to reduce transaction costs over time.
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