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#63 The King of Oil: The Secret Lives of Marc Rich
March 10th, 2019 | E63

What I learned by from reading The King of Oil: The Secret Lives of Marc Rich by Daniel Ammann.


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The spot market for oil was one of the most lucrative ideas of the twentieth century. [0:01]

the historical events intertwined with the career of Marc Rich [5:15]

how his family escapes the Nazi's [12:00]

his first jobs + learning from his father + finding his vocation [14:30]

learning the commodities business from A to Z [20:00]

his work environment was training for entrepreneurship + how he thought about the opportunity in oil [30:30]

Marc gets screwed on pay so he starts his own company [35:00]

why Marc chose Switzerland as the headquarters of Marc Rich + Co. [37:00]

why the invention of the spot market was important [43:00]

why Marc Rich thought he was exempt from Jimmy Carter's executive order [46:15]

the state of his business in 1990 [1:01:00]

how to lose $172,000,000 [1:14:00]

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