trysail
Catch Me Who Can
- Joined
- Nov 8, 2005
- Posts
- 25,593
Shipping is the mother of all commodity businesses. The margins are razor-thin on top of violent cyclicality.
Big mother financial leverage
+ Huge operating leverage
+ Gargantuan step-function capital spending
= Likely disaster
Big mother financial leverage
+ Huge operating leverage
+ Gargantuan step-function capital spending
= Likely disaster