By The most important companies in the world are absurdly cheap Simon Black June 19, 2023 1866 was not an auspicious year to start a business in the United States. America had just been devastated from a five year long civil war– one of the bloodiest conflicts in US history. Plus the country was in the midst of a severe economic recession. 1866 was also the year that a major investment firm in London went bankrupt, triggering a worldwide financial panic. Capital was scarce. Interest rates were high. And overall business conditions were pretty dismal. But despite such obvious challenges, 36-year…
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