Moving higher to 2.50, page-192

The gradual decline in SP (which is kind of similar to what happened last Oct-Nov during the election-vaccine turbulence) doesn't change is that ASB is a stable profit making company that pays decent dividends and it's not going anywhere really. The company did run ahead of itself in 2019, but this slide is occurring at very different valuations.

Now the word "stable" is kind of a taboo during these times, in the current market candyland being propped up by governments and central banks "stable" profit making companies without the chance of windfalls aren't going to be given too much attention. Debt is cheap making those companies taking it on for growth or promising to turn a profit look just that much more attractive, and the underdogs in the industry are given more attention since no one wants to 'buy microsoft' when they can 'buy the next microsoft'

Bottom line is if you're looking for big capital gains, you're probably in the wrong place. If you want a stable company you know isn't going to give you a big surprise at 0900 in the morning or just some dividends or a safe investment, ASB is probably as safe as it gets about now and is cheaply valued with room to grow.