With 20+ years experience in investment, both personally and professionally - i can tell you PE multiple is neither a determinant of success or failure. A case in point - when LYC was around $2ish a few years back - there was no PE multiple as LYC was loss making. If PE is the sole determinant of one's decision making, one would have missed the the last 2-3 years opportunity in LYC.
LYC at 49x will not deter me from buying if the investment case stacks up ... nor would i simply buy BHP at 15.5x simply because the PE is attractive. Quite simply, apart from the early 2000s when I did own BHP at one stage - i made a point that I will always never invest either in the big 4 banks or RIO/BHP (esp BHP) ~ there are a lot more better ways than to invest in these 'slow' moving monsters whose corporate red-tape meant their success is due more by chance than by sheer genuine entrepreneurship.
And take it from me - i know this from experience in the field. When one buy the major stocks - you are just buying market beta. There is nothing wrong with that if one is happy with accepting beta market returns.
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Last
$6.94 |
Change
0.070(1.02%) |
Mkt cap ! $6.486B |
Open | High | Low | Value | Volume |
$6.94 | $7.04 | $6.88 | $23.17M | 3.335M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 3000 | $6.93 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$6.97 | 13052 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 3000 | 6.930 |
3 | 29091 | 6.920 |
5 | 30926 | 6.910 |
6 | 28828 | 6.900 |
2 | 14432 | 6.890 |
Price($) | Vol. | No. |
---|---|---|
6.970 | 13052 | 3 |
6.980 | 14775 | 3 |
6.990 | 12282 | 2 |
7.000 | 21369 | 3 |
7.020 | 3000 | 1 |
Last trade - 16.10pm 12/09/2024 (20 minute delay) ? |
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LYC (ASX) Chart |