The end of the recession simply tells us that the economy is not getting worse. It does not tell us how much progress there has been since we were deepest into the pandemic hole.
The current shopping frenzy signs are heartening- but this is the time of year when that is expected. Retailers get a high percentage of their turnover/profits at this time of the year. But it is heartening.
For real economic progress- we need people- migrants, visitors, students, temporary workers etc. We need to keep a lid on it until our friends return.
I am happy to be a long term hold on VCX. I reread the financials etc that came with the June raising. VCX is looking really good for survival. The raising was predicated in bringing gearing back to 26%. The vast bulk of their debt commitments are long dated. Add this to the return of retail in time to save much of Christmas spending- VCX is likely to survive an extended recession- and it may need to.
Short term- volatility around an election choice between two dodderers who I wouldn't trust to feed my cats while I was away- covid raging in the US and most of Europe. The SP may be ugly and pressured at least for the short to medium term- but on any longer term- undefined but depending on covid- I expect it to do really well. and currently at almost half of Net Asset Backing.
IMHO DYOR etc etc
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3 | 192799 | 2.220 |
2 | 17627 | 2.210 |
5 | 31224 | 2.200 |
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Price($) | Vol. | No. |
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2.260 | 73744 | 4 |
2.270 | 445903 | 6 |
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