I was just being stock specific. You used AWC and QBE as an example and I believe they were very bad examples in my opinion. You are right however if you want to trade/invest, there are much better stocks than LNC such as the ones you pointed out however feel that ANZ is not a good one to trade given it's in the troubled financial sector. Great yield though.
One's that come to mind are RIO and BHP. You can buy them on terrible days/periods and be assured that you can continue to average down with the reality that they will bounce back in the short, medium and long term. The more shares you buy as they continue downward accentuates the your profits as they bounce. They do not have high yields but they are companies that have high beta to the general positive market movements, are cash cows and trade on very low multiples.
LNC on the other hand plays no part in the major index movements (ie: All Ords, AX200 etc) and furthermore has no earnings. In a bull market we all know LNC would be a lot higher but so too would others. Unfortunately it does seem years away from real earnings to make a difference to it's current share price.
What I just find amusing is hearing posters say that a company/stock is a long term investment when they have bought into that company at a much higher than current share price.
Any sale of any assets by LNC may really be a short term boost to its share price. In my opinion there is plenty of time to get back into LNC. Higher or lower, it doesn't really matter if there is clear visibility of future earnings.
:) Nic
LNC Price at posting:
$1.83 Sentiment: None Disclosure: Not Held
