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Strategies & Market Trends : Value Investing
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To: Bob Rudd who wrote (7323)5/26/1999 8:53:00 AM
From: Daniel Chisholm  Read Replies (3) of 78625
 
Bob,

Also high exit barriers

Thank you for crystallizing and capturing, in three words, a key piece of what I have been trying to figure out in the puzzle of why capital intensive industries seem to be low margin, brutally competitive intrinsically lousy businesses to invest in.

- Daniel
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