The refinancing wall everyone's fixated on? That's the *symptom*, not the disease. Real problem is margin compression in companies *with* pricing power — the ones supposed to survive a slowdown. (https://www.sec.gov/Archives/edgar/data/47111/000004711126000230/xslF345X06/form4.xml) this week ($178–$180) while the Street prices in eternal pricing power.

Research these companies