Why Capital Structure Matters - WSJ.com: "History isn't a sine wave of endlessly repeated patterns. It's more like a helix that brings similar events around in a different orbit. But what we see today does echo the 1970s, as companies use the capital markets to push out debt maturities and pay off loans. That gives them breathing room and provides hope that history will repeat itself in a strong economic recovery.
It doesn't matter whether a company is big or small. Capital structure matters. It always has and always will."
Very thoughtful piece.
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