Cyclical and Non-Cyclical Stocks
http://stocks.about.com/od/understandingstocks/a/CNCstocks.htm
http://www.investopedia.com/articles/00/082800.asp
Cyclical stocks represent those items and services for consumers and businesses that they buy when confidence in the economy is high.
Non-cyclical stocks represent those items and services for consumers and businesses that they can’t put off no matter what the state of the economy.
The difference between cyclical and non-cyclical industries is simply the difference between necessity and luxury
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