Mạng lưới, cơ sở dữ liệu, và các đồ tạo tác kiến thức (đại lý) phải được sử dụng để giám sát rủi ro trong các chất dẫn xuất và tất cả các sản phẩm khác trên toàn thế giới, giám sát hạn chế rủi ro đối với từng thương mại và dòng sản phẩm và theo dõi cả hai giới hạn rủi ro doanh nghiệp địa phương và tổng thể. | Cash Cash Flow and the Cash Budget Old economy industrials traded at 10x to 15x. New industrials such as established large-cap tech stocks traded at 30x to 50x. Go-go industrials recently public traded practically at infinity since they had no earnings. Shortly before the year 2000 meltdown of the technology media and telecommunications TMT sector some financial analysts believed that the best growth-and-value investments were found among the new industrials. It was said that the corrective stage for the go-go industrials would be quite damaging to them. It happened that way. As these pages are written the shakedown of TMT continues. But just as the broad market crash of October 1987 did not signal the end of that decade s bull market a major correction among the go-go industrials would likely not mark the end of the bull market in the first few years of the twenty-first century. The macroeconomic fundamentals for equity investing remain relatively good A federal budget surplus Low inflation Demographically driven shift into equities Consistent profit growth the other pillar of a bull market is wanting. This situation however is a known event. Lessons should be learned from the fate of what were in the past the new industrials such as the railroad boom bust and new take-off of the 1800s and in 1901. The railroad boom was punctuated by several sharp downturns including a near depression in the early to mid-1890s. But after each wave of consolidation and bankruptcies strong railroad growth resumed and the railroad millionaires like the steel millionaires after them benefited humanity through their entrepreneurial activities and their philanthropy. A slowdown in railroad construction helped trigger the panic in 1873 followed by an economic contraction that lasted until 1879. And that was not all. The failure of railroads in 1893 led to another financial panic that was followed by a near depression and widespread layoffs in the 1890s. But eventually both the railroads
