More positives ahead, page-4

Bought both CCL and WOW after their recent down turns. Both stocks have structural issues with Coke affected by CSD decline and WOW by low cost competitors. I prefer CCL as they are implementing a systematic and so far effective plan of non coke product roll out with the blue sky but problematic Indonesian operations.
Australia has a high probability of entering into recession in the next 12 to 24 months, which has been priced into the currency devaluation we are experiencing. This is why I believe defensive stocks with large dividends are preferential to" growth stocks" on high multiples or those dependent on discretionary spending. Both WOW and CCL generate income through non discretionary spending. In a recessionary environment this may favor lower cost competitors, but not always. Regardless, unlike a resource company, income will not decrease by a large amount and may increase in line with population growth independent of the general economy.
The other factor to consider is interest rates. We are likely to see interest rate drop to lows not seen before over the next few months. The search for yield will be again with CCL coming back into favor.

Anyway just a few thoughts.