RE:No way JoséPlease look in the rearview mirror. There will be a boom and there will be a bust. If you can guarantee ARX that "this time is different", that prices will not retreat and that cost of capital will not rise, then by all means, carry as much debt as you want. Low debt and a superior credit rating are insurance against the bad times. ARX has everything in place to be a market darling - if it proceeds with caution in 2021.