Howard Marks put it nicely when he said that, rather than worrying about share price volatility, ‘The possibility of permanent loss is the risk I worry about… and every practical investor I know worries about.’ It’s only natural to consider a company’s balance sheet when you examine how risky it is, since debt is often involved when a business collapses. Importantly, HRL Holdings Limited (ASX:HRL) does carry debt. But the real question is whether this debt is making the company risky.
Why Doe…

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