What to Buy in a Down Cycle?
Buy cash cows.What kind of cash cows? Cash cows with high moats (monopoly). A company can only have a high moat if it o…
When you know what you want, the next choices become much easier—because you understand which option brings you closer to your goal.
When supply exceeds demand, things lose value; when demand outstrips supply, they become expensive.
From a societal perspective, as the division of labor becomes increasingly specialized, it's actually very unfriendly to middle-aged and older people who've chosen the wrong path—the so-called "age 35 effect." In a game, you can pay real money to delete your account and start fresh quickly, but in reality, that's much harder to do.