Interesting times & interesting posts from all angles. Well....had my coffee this morning and tried to clear my head of the 'atmospheric noise' that we can all, at times, react to rather than use to our advantage. The human condition.
Maybe I simplify things too much but it appears to me that 2 things are relevant.
1. I do not follow horse racing but I know that you have to look at 'form' when making decisions - if at the last start the horse has not run well, the odds are that it will have to be better for those runs to get into the market. I see nothing new from the Government to suggest that at their next start with a bit of the whip the result will be nothing other than 'back flip' regardless of how they appear to be going in the 1st 200m.
2. If the 'horse' they are riding is 'profits going overseas' I would suggest that resource stocks pay very little dividends and profits are reinvested into Australia via jobs, infrastructure, etc. Not to mention the Australians that own these shares. I don't think that they can get this over the line. It is a nice media grab to kick this can but the reality will come through in the running and the punters will see what they are up to.
I feel that this particular mount is not going to go the distance, the jockey is out of his depth, the track is unsuitable, the form is poor, etc.
One T. Abbott will be riding hands and heals looking for a run.
Pretty poor metaphor I know but I am in today looking for opportunities based on the above (perhaps flawed) basis.
It will be a tough day (week, month....) in the 'office' but I am sure well worth it in the long run.
Best wishes to all of us battle hardened souls :)
ESG Price at posting:
77.5¢ Sentiment: Buy Disclosure: Held
