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Floating Asset
The Salad Oil King Who Fooled American Express with Water
Por GEORGE M. MILLER
-5% de dto. exclusivo web
Sinopsis
In 1963, Tino De Angelis controlled the worlds soybean oil market. Or so it seemed. His company had tanks in New Jersey filled with millions of dollars worth of oil—collateral for massive loans from American Express. But when inspectors came to measure the inventory, they didnt know the trick: oil floats on water.
"The Floating Asset" details the "Salad Oil Scandal," where De Angelis filled his tanks with sea water and pumped just a few feet of oil on top to fool the dipsticks. Its a classic tale of corporate negligence, showing how a simple physics trick caused a market crash and gave a young Warren Buffett the chance to buy into American Express at rock bottom.
"The Floating Asset" details the "Salad Oil Scandal," where De Angelis filled his tanks with sea water and pumped just a few feet of oil on top to fool the dipsticks. Its a classic tale of corporate negligence, showing how a simple physics trick caused a market crash and gave a young Warren Buffett the chance to buy into American Express at rock bottom.
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Ficha Técnica
Editorial: Epubli
ISBN: 9783565258703
Idioma: Inglés
Fecha de lanzamiento: 19/02/2026
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