Given the 'global financial contagion', so far on Thursday 16 March 2023, RIC's SP had fallen as much as six per cent.
It's a well run company. Despite flooding in some east coast areas and the possibility of a drought in calendar 2023 in states like Victoria, overall RIC continues to enjoy good demand.
It has excellent management so I couldn't resist buying more at A$1.985.
Poorly run companies will suffer in any 'financial meltdown' but while RIC won't be immune from having to face some challenges, my assessment is it'll get through any problems and perhaps even find other immediately accretive businesses to acquire at relatively attractive (not 'elevated') valuations.
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