yes advertising and media agency business is tough going at the...

yes advertising and media agency business is tough going at the moment.
SMI rates negative for 14 months now.

Personally I think Australia is in a retail recession already.

so yes definitely risk, but then that's why the share price is down where it is.

key to buying cyclical companies is when the cycle is low, not high.

could I be too early, yes quite possibly!!
but I doubt the share price will be at current levels once advertising clarity is restored.
so it's a catch 22