In business, a war chest is a stash of money set aside to deal with unexpected changes in the business environment. The term originates with the
medieval practice of having a
chest, literally, filled with money to open in time of
war.Companies rarely have a war chest anymore, relying instead on quickly raised
debt which costs nothing to carry when you don't need it. This is not always a reasonable substitute, as the debt available to a company typically drops as a result of the same actions that require the war chest to be opened.
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