RE: Very...4 Nov 2023 21:31
Yo - CK - how goes it? Haven't heard much from you lately, which is a shame, because you are one of the better pollsters here, and I for one look forward to your contributions.
We seem to be stuck in a never-ending loop here - always anticipating the next set of results, which will see us 'take off', in between the the next inevitable drop, which is the thousandth opportunity to 'top up' at a bargain price. No offence to anybody, because I'm sure we have all mirrored those thoughts at some point.
Most analysts seem to agree that we are under-valued, and it's certainly difficult to understand why we were comfortably over £2 (post RI) in the depths of covid, but are now way below that , despite posting record quarterly profits, and comfortably getting on top of the debt.
Of course, wider macro events contribute, and the aviation industry is particularly susceptible to those.
The last decade or so has been particularly volatile - the last time I can remember any sense of calm, or stability, is probably prior to the financial crash - so about 2006/2007. Since then we have had the fallout from that global banking crisis - ie. bankers waltzing off into the sunset with bucket-loads of cash, while the rest of squared up to a decade of completely useless austerity. What kind of austerity triples the national debt? Sorry - I digress.
Anyway, after that we had Brexit - I didn't vote, but the vote was taken, and should have been respected - instead of which there was 3 years of political squabbling by people who disagreed with the mandate. So much time was taken up by that, which meant other things were neglected, and we are seeing the consequences of some of that inertia now.
Anyway, just as that seemed to be taken care of, we were hit by covid. Now covid is one thing, but the lunacy of (completely pointless) lockdowns is another, and yet one more thing which we are now suffering the consequences of. Then (unbelievably), just as we were emerging from that, Russia invaded Ukraine, leading to a surge in energy prices, which pushed us over the edge in terms of inflation/cost of living crisis, and led to a big jump in interest rates. Although don't let yourself be fooled into thinking it was the sole cause - if you spend a decade printing trillions of dollars/pounds at 0% interest, you shouldn't really be surprised if you get inflation.
Where was I? Oh right - covid/russia/ Ukraine etc. Moving up to recently, we now have the appalling crisis in the middle east, and the wider implications of that. (I feel guilty at even mentioning that on a share price forum. Thousands of children dead/maimed. Words fail me.
That's before we get to other issues, such as climate change, political upheaval, mass migration, political instability, etc. etc..
Anyway, it was so long ago, that I can no longer remember what my original intention for this post was, so I apologise for my rambling That said, for someone who is fairly pi**ed, I think I have done quite well.
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