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Many economists say that China has an institutionalised bias to over-reporting growth at the bottom of a cycle and under-reporting it at the top, to reduce the volatility of the numbers.
Why would you sell one of the world's greatest brands at the bottom of a cycle?" And in an indication that the belt is being loosened slightly at the newspaper following a round of job losses, the Pearson chief executive admitted that reporters will be allowed to lunch contacts once again on company expenses.
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Sure, earnings seem weak, but this is the bottom of a business cycle.
Forget about the "fat lady" singing at the bottom of a market cycle.
Tosco Chairman Thomas O'Malley showed a trader's instinct for finding the bottom of a business cycle when he bought a string of refineries in the 1990s.
Analytically, angels know that this is opportunism rather than investment, and that the bottom of a macroeconomic cycle is instead the right time to put money into small high-growth companies with the capacity to go super-big.
While Barack Obama had the good fortune of being elected near the bottom of an economic cycle, the presidential winner in 2016 will likely be elected near a top that will be difficult to extend.
The relevance of researching thermodynamic cycles for combined cycle applications is that a vast amount of heat energy is available at negligible cost in the bottoming cycle of a combined cycle, with the drawback that existing thermal cycles cannot make efficient use of such available low temperature heat due to their low efficiency.
Mr. Lomanno said the industry "reached the bottom of the cycle a few months ago".
In the present day, at the bottom of an interest rate cycle, it is much harder to generate returns.
"At the bottom of the cycle, you have a better opportunity to fix an airline.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com