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Joshua Kennon
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Daily Archives: April 15, 2012

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You Might Want to Avoid Investing in Hard Businesses Under Most Circumstances

The World Is Full of Hard Businesses. You Should Probably Avoid Investing In Them.

Business StrategyBy Joshua KennonApril 15, 20127 Comments

The world is full of hard businesses like steel mills.  As a general rule, it is best to avoid them if you want to make a lot of money given that they tend to involve more risk due to lower returns on capital, weaker balance sheets, higher indebtedness, and a host of other factors.

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