Understand or at least acknowledging that cycles exist is...

Understand or at least acknowledging that cycles exist is essential.
Not understanding the relationship between the cycle of stockpiling and demand cost me about $900k in the recent downturn. But I still believe LIT will recover and is indispensable for the future of energy use.
However, I will be closely watching these cyclical factors in the future.
I'm also aware that Lithium is one of the most common elements on earth and almost every country has some (obviously some more than others). So my thoughts are that the primary driver, apart from demand, will be the production/processing costs. Clearly the bigger players will have the benefit of economies of scale, hence why the AKE/LIV merger will be so beneficial to the share price.
After selling all my LIT (and pretty much everything else but the kitchen sink) last week in order to preserve capital, I think things have stabilised and I'm back in.
Long term, LIT is still the new oil in my opinion.
Not advice etc.
GLTAH