but why? this is the essential answer one needs to reflect on.
The current cycle is NOT the same as the GFC cycle.
This cycle is not a 'credit' cycle.
This cycle REITS were not leveraged 60% going into the downturn.
This cycle finance is available (although it will cost more as interest rates rise).
So very different to the GFC, but humans try to simplify and extract from the past and extrapolate the past into the future.
Anyway very happy with my profitable position, and with a total return: profitable position + great dividends total return should hopefully be very rewarding.
Ann: COF FY23 Results Presentation, page-120
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