Cheap stocks are available for those investors willing to accept the risks of which there are many, perhaps even more than usual under these kinds of circumstances. Higher and higher interest rates are weighing on balance sheets, income statements and everything else taught in Business School 101 — a factor evidently unanticipated a year ago by many chief executive officers of big publicly traded companies.
It’s funny: in America you can get an economics degree from a fine university and then go on to get an MBA as well, and then manage and fight your way to the top and yet, fail to realize that most of your “management” success is based on 18 straight years of low interest rates, not your extensive education nor your apparent but false business brilliance.
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