Marc Rich Quotes

Marc Rich — American Businessman born on December 18, 1934, died on June 26, 2013

Marc Rich was an international commodities trader, hedge fund manager, financier and businessman. He was best known for founding the commodities company Glencore and for being indicted in the United States on federal charges of tax evasion and illegally making oil deals with Iran during the Iran hostage crisis. He was in Switzerland at the time of the indictment and never returned to the United States. He received a controversial presidential pardon from U.S. President Bill Clinton on January 20, 2001, Clinton's last day in office... (wikipedia)

George W. Bush was a very bad president. The Iraq war was a big mistake. The U.S.A. needed a political change. I hoped Barack Obama could be a good president, but I'm disappointed. He hasn't done well.

I basically see two reasons for a going public: Glencore gets access to more money. It is a way of funding your business and to finance growth. Plus: You have more liquid shares. It is easier to leave the company and redeem your shares. The 'going public' may also be an exit strategy for the top management.

It is much more convenient not to be a public company. As a private company you don't have to give information to the public. Secrecy is an important factor of success in the commodity business.

I miss New York. I like the country and I like the people. However, the U.S. political and legal system is prone to overreaction.

You can't run a business based on sympathies; otherwise our business would be hampered.