RM is essentially in the service sector, and is highly geared. It is not influenced much by asset or commodity prices compared to employment and wages. For example, if costs per staff increase, that could wipe all profits, but if management costs are reduced by a few percent, profits will increase massively. There is very little capital value to increase over the years to come. New competition with RM is a major peril for long term investors. In light of all or at least some of the above, real… Read More
you could be right, this current slide is not what i was hoping for, as i said in the past, mid Jan for a better idea where we stand, but i fear you may be right this is already sliding into a depression before the results, like there is no buzz or anticipation of good results :(
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