Up cycle now, page-279

the way I figure is that people who don’t know anything have ideas. And they assume travel stocks will rocket cause of COVID-19 but well their research ends there. No factor of dilution, EPS, book value, future earnings. I think they just look at a chart and put 2 & 2 together. But what we underestimate is the value of stupidity. And, well, quite frankly the ASX is the world leader in stupidity. Too many times I’ve seen stocks at insane prices without the justification, and I don’t get it, but then I think stupid do what stupid does. And sometimes you just need to be the herd. FOMO, property prices, someone even told me QANTAS is a buy, still scratching my head on that one. At what stage does reality sink in without a world of fantasy, the truth is, it doesn’t. Even when QAN was in its prime, it was still a $8. So with dilution and all the other loses, today’s sub $6 is like last year being $10. How do you get a SP higher the prior highs when it’s possible unlikely to generate that revenue for 5+ years. Miracle.