06-24-2016, 10:54 AM
I tend to ignore macro cycles and just focus on my watch list. I have a total of about 75 companies that I'd hold forever, but I only want to buy when the price is right. When I make purchases (maybe 1x or 2x per quarter), I buy what's value-priced at the time. I'm sure that over ten years of doing this, cycles will impact different businesses in different ways.