How High Can An Airport Fly?
Every boom busts..it's just a matter of when. The boom in yield stocks, that appear to posses safe earnings, has been significant. Sydney Airports has been distributing more than its cash earnings (after maintenance capex) for more than a decade. The stock appears to be priced for a perfect future. How long can this go on? Have investors stopped trying to understand the risks? Full article. (VIEW LINK)