This is an excellent article. It displayed accurate assessment of how bears behave.
Another way of looking at it is the bear seasons are long and fun. So just anyhow buy and accumulate. As long as it is not in the frantic bull phase (it seldom happens anyway), we can always accumulate using our spare cash. There shall be no bank borrowings. As long as there is no bank borrowings, there is no leakage. Once there is no leakage, there is no internal bleeding. Once there is no internal bleeding, there is no health issues. Once there is no health issues, I will not fall sick. Once I am not sick, there is no draw on the asset base. Once the asset base is not touched, the assets are now allowed to grow at its own pace. Some are fast, some are slow. Anyway, they will all grow somehow in a time in the future.
But this is going to be very slow using own cash base with no borrowings. Interestingly, trust me, this is ironically the fastest pace for growth in asset base.
Another method of accelerating that growth is to provide fertilization to selective assets. It will fruit with a little more tender loving care. But, provide tender loving care requires business-specific knowledge acquisition, this takes time and should have certain level of fun and passion commitment. It is thus no different from doing any other business types. So it really doesn't matter.
Since investment is so easy as ABC as stated above, the smart ones suggest gearing. NEVER NEVER GEAR. Once one gears, all initiatives are lost, the element of steadfastness is gone. The infrastructure is built on a sand table, it will not root.
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