Chapter 3. The Acquisitive Master Cyclist Buys Low and Sells High
“What you try to do when you manage this type of company is broaden the franchise at the bottom of the (economic) cycle so that the snap out of the cycle can be positive. I think we really strengthened the company during this [recessionary] period.”
—Ronald DeFeo, CEO, Terex
“We sold plants at the top when prices were at their peak. Now that everybody’s selling, we’re anxious to buy assets. It takes a hell of a lot of discipline, but sometimes you have to go against the market.”
—Richard Priory, CEO, Duke Power
The age-old maxim “buy low, sell high!” is as true for a small investor ...
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