Cyclical industries are always predictable in that they are up until they are down. Kidding aside, correctly anticipating the swings is the goal of any buyer or seller. And every so often a particular event moves the needle drastically, to the point that even the veterans are caught off guard.
One famous journalist recently described success as “when people see you as what you wish you were.” The man who wrote that never met Ray Boissoneau (as in “boss-in-oh”). More than 35 years ago in an old mill building in Manchester, NH, Ray (it’s impossible to refer to him by his last name) launched Electropac with a Dunmore drill (those were the pre-Excellon days) and a countertop kitchen skillet for reflow similar to the one my mom used to make pancakes.