With the market volatility, some of us may have to join Hopeful...

With the market volatility, some of us may have to join Hopeful at Mass.

On an interesting note:

My thesis on ING isn't affected by debt. The paydown of debt should cover any upward movement in rates as I see it. My risk is more around the cost of feed and supply coupled with logistics. I am not sure if any cost pressure can be passed onto customers. The resignation of the NZ MD is out of left field as well. Although the long lead time seems to negate any bad feelings between the parties.

Whilst it does have a large debt profile it also seems to have been through a reorganization and modernization so I suspected that this is peak debt and it will decline over time. A bit of inflation may actually help over the next few years to bring this debt down in real terms coupled with repayments.

I don't normally get into the meat and what people eat but certainly, my consumption has dropped but I am not yet at the plant substitution level. I am not sure that substituting my beef burger is the same as Chicken... Pigs - I suspect that isn't on the cards - the pig farming is very efficient and space will have to increase to grow the plant matter to substitute.

Anyway, all my substitution has been from Beef to Chicken and Fish and then a reduction in both.