under rights price, page-6

Hi Whitepointer, could you please explain why you think TSI is a defensive stock? Is it simply because its infrastructure?

As I'm sure you know, it traded at 51c back in March 09. The more traditional defensives like consumer discretionaries (WOW) and healthcare (CSL) didn't have big dips like TSI did, which is why I'm of the opionin TSI is not a defensive, its purely a high yielding stock and the distribution puts sort of a floor under the SP, but in times of panic, it has dropped as much as the next guy.