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You could buy all of America's best corporations for somewhere around eight to ten times cash flow. Someone is going to start doing this.
Highlighted by jrstoltz
For smaller industrial firms that
relied on seasonal demand and outside capital, the situation was dire.
As capital reserves dried up, so did their industries. Carnegie and
Rockefeller bought out their competitors at fire-sale prices. The
Gilded Age in the United States, as far as industrial concentration was
concerned, had begun.
Highlighted by jrstoltz
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