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It seems to happen once every 10-years. We sense that Investors in Auto and Auto Parts Stocks have (to some extent) turned more bullish. The thinking is that if Autos will ever work, it should be now… during the trough to trend phase of the Auto Cycle. Investors are increasingly asking us for our macro work, asking if demand could return to pre-COVID levels, and if margins could exceed recent levels (there were many surprises during the recovery phase of the last cycle).
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