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- It wasn’t until I went to visit the trawlers and met management that I understood the opportunity. They were enormous ships; each cost $20 million new. They had 100 ships in their fleet, which meant $2 billion worth of ships. The ships were about half depreciated, so they were then worth about $1 billion.
I asked them why they had hired me. They said, “We want your advice on whether we should buy 51% of this company for $2.5 million"...
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