1Semana
Again, very worth reading.
After this lesson, I would see the industries that are cyclical and capital intensive, such as airlines here as an example, if I understand the topic correctly.
After this lesson, I would see the industries that are cyclical and capital intensive, such as airlines here as an example, if I understand the topic correctly.
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1Semana
@TradingHase Thank you! And yes, that is exactly the right train of thought. Industries such as airlines, cruise lines or even parts of the telecom and energy infrastructure work structurally with very high fixed costs and long investment cycles. There, debt/EBITDA figures of 4x or even higher are not an acute warning signal, but almost inherent to the system. The decisive factor is less the absolute level than the question of whether cash flows are stable enough to withstand phases of higher interest rates or slumps in demand. This is precisely why the risk profile of these sectors differs so much from consumer or tech.
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11
•1Semana
@Liebesspieler Not so easy to understand, but with a little thought about the way a company earns its money, you can get to the bottom of the secret.
For example, $LHA fits in well.
For example, $LHA fits in well.
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