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Notes 26

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The greatest aid to judgment is starting from a good position. The company with cash on the balance sheet and low debt has nothing but good options to choose from. When bad times come, and they always do, their options go from good to great. On the other hand, a company with no cash and high debt has nothing but bad options to choose from. Things quickly go from bad to worse. And this example easily extends beyond the boardroom as well. Page -1

Clear Thinking 26 notes

Keep what you read, not just what you finished.

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