Ann: Quarterly Activities and Cashflow Report, page-32

@tt2000.........that's an interesting question to answer.
I always thought SEA had been trading on a significant discount.
Two reasons for this IMO is managements past performance and more recently the bottleneck issue.
As I have stated many times I think the sentiment in SEA will turn should they announce a satisfactory resolve in the bottleneck.
I have to say I was pleasantly surprised that the SP did not do much for an hour or so after what was a positive bottleneck ann and was delighted to pick up two parcels of shares @ 44 and 44.5.(hence my post about a delayed reaction opportunity) I think you are going to see a sentiment change occur and a solid follow through today and following days.
Does this mean I am an investor in SEA...........not over the long term........more an opportunistic investment based on my view SEA would have a sentiment swing if we got a timely positive bottleneck ann.
In saying that my expectations are SEA is going to rerate very nicely over a number of days on the back of a satisfactory resolve of the bottleneck and the two parcels I bought are done so to ride this change in sentiment.
Pretty happy so far but me thinks this has a re rate written all over it...........going to be very interesting to see the price in a week or so.
I feel supper confident those that were down playing the significance of the bottle neck ann(one way or another) are in for a bit of a surprise based off what the SP does on the back of this.
Ha ha even told the wifey to book the next cruise (first time to the mediterranean) as I believe this SEA play will be paying for it.......and quickly .