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Crowd Money: A Practical Guide to Macro Behavioural Technical Analysis by Eoin Treacy

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Chapter 25: The Autonomies

A COMPARATIVELY SMALL NUMBER of companies have outgrown their respective domestic markets to become truly multinational participants in the global economy. These companies will be less unduly influenced by the travails experienced by their respective domestic markets because their revenue is more diversified. Companies with a global reach, that dominate their respective niches, have brand recognition, strong cash flows, reliable dividends and leverage to the growth of the global consumer are capable of profiting even when their domestic market might be in difficulty.

David Fuller christened such large multinationals “mobile principalities” or “Autonomies” because they are independent, powerful, mobile “mini countries ...

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