Strategy in cyclical industries

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The world’s biggest basic materials firms are suffering along with others as the world economy collapses, and the Economist points out that taking on loads of debt to grow and acquire others did not help. But these industries have always suffered cyclicality, even when not buffeted by extreme market conditions. Pity is that we have known how to steer away from these dangers for many years. Seems to me the same principles would have been useful to a great ...

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