Sydney Airport
Some expert nuts in some financial institutions opined that Sydney Airport was overpriced and asked their clients to sell. So the share price has fallen significantly over the last 2 months.
Perhaps they have a special crystal ball... but did they predict a fall in arrival numbers? The most recent figures show foreign visitors and local travellers have jumped in numbers without any dip consistently for as long as I have been reading the figures.
So, I ignored those 'expert soothsayers' and may live to regret it ;-) I didn't sell, in fact, I bought more when the price dipped a lot.
posted by Club Mulgoa @ 10:31 PM
2 Comments:
Some very smart analysts said this stock is overpriced... and advised their clients to dump it. So I picked up some at around $5.87 and around $6.01 in two lots in one day. And earlier at $6.55. But even earlier, I bought at 7.01 and 7.105 (before the analysts' statement).
Yes, it is overpriced but there is a good reason for it. Its principal asset is still taking in a lot of tourists! And it pays good dividend. I have no problem with share price falling as long as the return is still good ;-)
I didn't buy the shares today but a few weeks and months ago... It is nice being a contrarian and getting it right! With thanks to those fantastic analysts who are paid more than me!
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