...to be invested in extremely risky stocks with horible managements and long histories of underperformance. Stocks like this get crushed faster and farther in bear markets and come back last and least when the market turns.
That is if they survive. Often they do not.
As I wrote the other day, TIV is in an especially precarious position given it's very weak balance sheet and dwindling cash. In stable markets weak balance sheet companies can raise equity to solve their problems even though it dilutes shareholders. But in crashing markets it is hard to find investors, at any price. Lynn is at that precipice now.
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