Yes, agreed, but some Australian investors never get it, yesterday Vanuatu, hardly material for a NZ telco, caused SPK (old Telecom NZ) shares to tank front run on the ASX. So SPK was ridiculously sold off due to the Vanuatu story, Vanuatu is hardly material for SPK, in fact it could be a marketing win for SPK: see below
http://www.scoop.co.nz/stories/BU1503/S00509/spark-nz-works-to-help-restore-communications-to-vanuatu.htm?
If Australian investors r so skittish about natural catastrophes, the insurance sector is probably undervalued. Every investor in Australia seems infected with some Gillard-like pessimism drug and seem to overreact to anything and any event on the downside but let the upside events pass through as a flat market beta. Soon global investors will find less emotive, less gothic markets to trade in. All IMHO but pls DYOR.
Yes, agreed, but some Australian investors never get it,...
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