think and grow rich

I have been thinking about my US steel analogy from the book "Think and Grow Rich". The more I think about it the more similarities I see. Back then there were a whole lot of little unprofitable players and then there was Carnegie Steel which was owned by Andrew Carnegie the second richest man in the world. Now we have a whole lot of satellite IO deposits which are nothing by themselves but the one big player is SDL. Back then they had Charlie Schwab, who knew iron and steel inside out and who worked with JP Morgan to put the deal together. Today we have great IO men on the SDL board and the China bank starring in the role of J P Morgan. I found the story of the US steel trust from Think and Grow Rich in MP3 format (2 parts) and have posted them below. Listen around the 8 minute 34 mark on part one and you will hear where it dawned on J P Morgan that a steel trust without Carnegie would be no trust at all. Carnegie was eventually bought out for 400 million dollars which at the beginning of the 20th century was an obscene money. When I heard this last night I thought again of Hebei and CRM getting involved with the Afferro takeover.....what J P Morgan realized back then about Carnegie and the steel trust applies here. Afferro without SDL is worth nothing. I believe this is a huge hint as to why George Jones is seeming so confident lately.

part 1


Part 2