Biggest mistake many investors make in highly cyclical sectors like steel, sugar, metals etc.
is that...during upcycle they assume earnings to be structural and get swayed away by optically low valuation thinking it as value buy..
Result... averaging down during fall n disaster
More from Vivek Mashrani, CFA
More from Market cycle
18-19% ROE wale being bought by institutions at anywhere b/w 12 and 20x price to sales. Not many liked this space in 2013. Not many hate it today. Social validation in investing is a big curse ...
Ghor ChemYug 😆
Ghor ChemYug 😆
#DeepakNitrite valuation is most attractive in the space...
— jeevan patwa (@jeevanpatwa) June 30, 2021
growth will be most explosive in the space... pic.twitter.com/8VYdWwFApY
You May Also Like
BREAKING: @CommonsCMS @DamianCollins just released previously sealed #Six4Three @Facebook documents:
Some random interesting tidbits:
1) Zuck approves shutting down platform API access for Twitter's when Vine is released #competition
2) Facebook engineered ways to access user's call history w/o alerting users:
Team considered access to call history considered 'high PR risk' but 'growth team will charge ahead'. @Facebook created upgrade path to access data w/o subjecting users to Android permissions dialogue.
3) The above also confirms @kashhill and other's suspicion that call history was used to improve PYMK (People You May Know) suggestions and newsfeed rankings.
4) Docs also shed more light into @dseetharaman's story on @Facebook monitoring users' @Onavo VPN activity to determine what competitors to mimic or acquire in 2013.
https://t.co/PwiRIL3v9x
Some random interesting tidbits:
1) Zuck approves shutting down platform API access for Twitter's when Vine is released #competition

2) Facebook engineered ways to access user's call history w/o alerting users:
Team considered access to call history considered 'high PR risk' but 'growth team will charge ahead'. @Facebook created upgrade path to access data w/o subjecting users to Android permissions dialogue.

3) The above also confirms @kashhill and other's suspicion that call history was used to improve PYMK (People You May Know) suggestions and newsfeed rankings.
4) Docs also shed more light into @dseetharaman's story on @Facebook monitoring users' @Onavo VPN activity to determine what competitors to mimic or acquire in 2013.
https://t.co/PwiRIL3v9x
