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>For most companies that isn't attractive because that means forgoing opportunities to compete/diversify (depending on situation) when the market best supports
by Finnucane 8y ago
>For most companies that isn't attractive because that means forgoing opportunities to compete/diversify (depending on situation) when the market best supports them, which means greater chance of firm failure.
And then getting bought up by some competitor who _did_ keep some cash on hand.
- privateprofile 8y agoExactly. I've seen this happen some 8 years ago, when the financial "crisis" hit, as the (larger) company that I worked for managed to not only stay afloat, but actually acquire at a very steep discount some of the smaller and more "efficient" competitors that went under as soon as reality diverged from their market assumptions.