this ipo game is starting to become a joke. very concerned with the reports over the weekend. fund managers willing to pay 21-22x for medibank with most polled at 18-19x. thats a joke. its not a health provider company with pricing power. no wonder fundies dont make any money over the long term- they just pay up high prices at the top of the business cycles.
just to show the NIL intelligence of the fundies, they think the industry is growing at "7-8 per cent per annum". nearly all the fundies said that. but they need to grow at that, to compensate for the rising healthcare costs by their suppliers like ramsay health care. conveniently leaving out the cost side, what a joke.
