
Sooner or later, most people who save or invest come across the words 'cycle' or 'cyclical'. It's an impressive sounding term, but like most impressive terms connected with investing, the meaning is a little mixed. It could be something very useful, it could be irrelevant, or it could be worse than useless. By worse than useless I mean it could be something actively misleading. For example, followers of the bizarre cult of technical analysis use the idea of cycles in many strange ways but that's fine, because it's at least amusing as long as you don't fall for it. However, if you try to find out what cycles are and how you could use them and start your education with Google like any normal human being, you are likely to run across a multiplicity of cycles. There are business cycles, market cycles, and economic cycles. There are sectoral and in



