Failure Is NOT An Option, page-238

Everyone is a genius when prices are going up, you earn your money when things get tough. With regard to the management here everyone is quick to point out how the tough market conditions dragged it down which is true to a point, PLS, LTR, CXO and GXY/ORE for example got bigger while AJM and A40 got the chop, how did that happen?
While blaming market conditions for the downfall a few common denominators don't see the SYA success as aided by broader market conditions rather good management. Will be interesting to see what they have learnt when things get bumpy again. I have noted they have avoided large debt so far but the SOI is getting out of control.