Although, commodity rout has been widely telegraphed, its implications have yet to surface in light of muted bankruptcies. This supply-demand adjustment is a long term process and for someone willing to invest, two key things should be clear. 1 ) Survival of the business through this downturn, be it if dividend cut or asset sales are required - look for management that is focused on turning the business around not on appeasing investor base. .2) Long- term investing patience - as I alluded earlier in my note, this adjustment is a long term process , and could be more painful in the short term.