agree 100% with what you said. I recall the oil crisis a few years back, I bought in big thinking it would blow over quickly, I was wrong! The low oil price was just the start. As soon as it took hold of earnings pow, write down city with cap raising across the industry. I did 50% on stocks that were already down 30%. A lot of stocks are so ill equipped to handle serious market deterioration. While debt is historically a great thing, a serious hit to revenue can put a business at knifes edge. Huge loans relying on huge debt, you take a huge ongoing hit to revenue how do you repay the loan?
SYD Price at posting:
$6.31 Sentiment: None Disclosure: Not Held
