It is mildly interesting to now be reading very similar posts to that which was going on when QAN hit the 90's in late 2013 and early 2014. I bought some QAN back then as well and still have a reasonable parcel. All the same sort of hype and "thesky is falling in..." stuff.
Now QAN is around $3.60 - might not happen here but looks very similar.
It is amazing (well not really because it happens so often) how key themes repeat themselves. I guess that's why Buffet goes on about being greedy when others are fearful and being fearful when others are greedy - think that's right?
Anyway, apologies in advance for all of the detail in the post but thought it a worthwhile exercise for those interested. Look at the last statement in the 2nd example! I reckon buying distressed assets is a good game to be in. You should see the absolute bargains one can get in heavy mining equipment at the moment. Outstanding prices for what was very expensive equipment.
Example 1 posted on 8 December 2013 "Can't see it happening but qantas is such a mess it reminds me of what telstra could have become with out the many visionary infrastructure and acquisition decisions of sol trujillo,happy to list them.Imo telstra would be lucky to be trading around $1 if not for the new business model trujillo established. Many literally hate trujillo's guts,from govts,unions,some DH media commentators and the large build up of dead wood in telstra some still remains during telstra's monopoly days. Sol left and luckily for telstra mr nice guy thodey took his place,but most high up in telstra know the worth of sol's contribution.
Unfortunately I don't believe qantas will be as lucky to find someone like trujillo especially considering the rubbish a new ceo would have to put up with if he did what's required if the rubbish trujillo had to put up with is any measure .
gl to qantas employees and shareholders."
Example 2 Posted on 12 December 2013
"It is time for a change, and those who think that it will all be ok in the end, - are dreaming. Alan Joyce has few options, its too late now. He is no longer in charge, the big shareholders and lenders are in control, because if any one of them decides to protect their investment, or deploy their losing funds elsewhere, its all over."
Example 3 Posted on 14 December 2013 "Rearranging deck chairs on the titanic.. I retired last month. 40 years in QF Seen and heard all the management rehtoric And as you can imagine there's been a lot.
..I think a few things stand out to me over the years
They have first up a -completely disengaged work force I can honestly feel how proud that the every day worker must feel in carrying out his duties with such professional pride in the job they do and the emotion that comes with this in working for such a great icon and the cutting edge industry this involves.. But I have never felt and heard of a company that treats it's workforce with such utter contempt.And it's utterly demoralising
It's ingrained in there culture and it's instrumental to their demise
Inept management decisions with A/C purchases which have resulted in an inflexible and an out dated fleet of fuel inefficient A/C coupled with low public appeal product
And
The complete obsession with the cannabillisation of the parent company by jetstar who's every day infrastructure depends on and is costed to mainline Qantas to some degree.Dixon started this race to the bottom with the Joyce era finishing it.Let this piece of crap stand on its own feet Thank god after so many decades the public perception is changing to the fundamental causes to this companies demise and the low price CEO s bleating is finally being heard for the bullshit Unless these three factors are changed then this company is a long term basket case and good luck to u poor shareholders"
SGH Price at posting:
94.0¢ Sentiment: Buy Disclosure: Held
Outstanding prices for what was very expensive equipment.
