It is probably true to say that anything highly geared will more than likely get slaughtered over the next few months or so including resource and commodity stocks that will in turn get hit as prices slide and global demand faulters as economies slow. You need only look at debt laden Centro to see the power and might of stockmarkets when they get grumpy. As for debt free SBN, they will slip through OK imo, business as usual but as the frequency of calls increase on leveraged investors over other securities, so too will the liklihood impact of these highly geared investors (who felt that the market had nearly met its bottom). Maybe a very expensive mistake but therein lies opportunity of the best kind since you know that the SBN short to medium term future is now fully underwritten.
Cheers
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