I do agree with the banks too ex Sold those stocks at almost their highs, bhp $50 but it went to $54 omg.... was kicking myself. Now seems cheap but Iron ore prices crash back to 2016 levels. still got room to go.
I was very very wrong with AGL seriously. The classic rule book Financial crisis buy UIlities are thrown out of the window almost completely.
However, I need to praise her is that... she held up $17 till June 2020 gave me precious time to think from March 2020 to almost bottom fish with extra cash from property when the trend turns for those other stocks.
Sep 2020 something is just not right with the wholesale electricity prices. 2024 those bids are $30+ plus the never ending solar. Every day you see
https://aemo.com.au/energy-systems/electricity/national-electricity-market-nem/data-nem/data-dashboard-nem
https://reneweconomy.com.au/rooftop-solar-helps-send-south-australia-grid-to-zero-demand-in-world-first/AGL mainly look at VIC and NSW
It's really hard to see a way out of this onslaught of free energy from Sun. I have a 13kw solar panels, 10kw inverter with Tesla battery on one of the phase backing up "emergency power for the essentials". Each day more and more people have "prepaid" their electricity to not AGL but to the Manufacturers of those systems. and practically have free energy for the lifetime of the house. and especially more and more businesses are having their whole roof with Solar. Ever buy a Slab of victoria bitter ? it says, brew in a solar facility with 100% carbon offset. (something like that.)
AGL is not dead but limping. Even if they expand the large scale renewables. They are not making money because of competing "decentralize of solar rooftops" much like crypto. Many large scales has written down. The big battery effect of the tesla software bidding seems to have taken the FATTEST part of the cupcake. if anything happen to AGL blame the cheap and good Chinese solar panels and Tesla's Boss batteries. As much as I hate them when I was holding AGL, in the end I still buy their products.
Anyway Good Luck Joe. Maybe you are not that scared because you have a diversified portfolio. 2019, I was positioning myself 100%~120% for a Financial Crisis and hoping companies like AGL would at least trade sideways and good dividends to ride out a potential Financial Crisis unharmed. Little did I know it was a virus type financial crisis that changes human behaviours. lol..... ah well.
(20min delay)