Is red meat bad?

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I recall working on a research assignment in my college biology class regarding red meat. Studies showed links from intestinal cancer and heavy red meat eating. Some red meats are really high in saturated fats causing high cholesterol and heart disease. From that day on I cut my red meat intake in half. I started eating lean red meats because in small amounts you do get a higher serving of protein compared to other protein sources. However in general I only eat meat for dinner and typically start my day with eggs, almonds, peanuts or other protein rich foods. What is your stand on red meat? Do you still eat it everyday? Or have you cut back on it as well?