It is no secret where we are today in the business cycle. IntelligentInvestors who have not properly positioned themselves, or lacked anunderstanding (as many did and do) of the nature of business cycles, arecertainly finding circumstances challenging. But there is always action to takeand always ways of coping, at least to some degree, with what is taking place.By recognizing the reality of the current business cycle, byunderstanding its causes as well as the severity of its nature, the IntelligentInvestor should be able to put in place successful coping mechanisms. Mostimportantly the Intelligent Investor should seek to educate himself orherself about free-market economics and the business cycle.Intelligent Investors seek to understand financial markets andbusiness cycles and where our financial system-worldwide-is headed.Familiar with the organization of our current monetary system, IntelligentInvestors will invest in a cautious but disciplined fashion-bearing in mindthe current stage of the business cycle and the nature of the fund orinstrument in which they are placing assets
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