The Leverage Factor by James Ardell - HTML preview

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8. - Capital Structure and the Business Cycle 189

Common Elements of Business Cycles, 189
The Yield Curve and Interest Rate Behavior, 190
Graphs That Unite the Two Theories, 192
Strategic Considerations, 198
The Business Cycle and the Cost of Equity, 200
The Capital Asset Pricing Model and Sensitivity Analysis, 202 Circumventing the Optimal Capital Structure, 208 The Game of Capital Structure “Gothcha”, 209
Idealized Trends, 210
Sector Rotation, 212
Sector Logic, 213
Industry Response to the Business Cycle 213
Economic Signals, 217