00:01
So, recessions obviously have a lot of drawbacks, but sometimes there can be positives attached to a recession as well.
00:10
Now, for some industries, they are going to be hit particularly hard by recessions.
00:16
Some industries are not affected very much at all.
00:20
Industries that produce things such as toothpaste, for example, usually are not affected that much by a recession.
00:27
And the reason for that is because whether the economy is booming or whether it's lagging, whatever the case may be, pretty much everybody is still buying these bare necessities like toothpaste.
00:40
Okay.
00:40
Now, recessions also can be really, really great buying opportunities for firms.
00:46
For example, if you were a very productive firm and your competition was not and they go out of business, you may be able to buy up their old equipment, their old facts.
00:57
Their old inventory at very cheap prices, relatively speaking.
01:03
So it allows you who were more successful to be more successful still...