Newspaper headlines saying doom and gloom tomorrow
Newspaper headlines saying doom and gloom tomorrow? Qantas is a reflection of where the Australian economy is right now - probably near the bottom of the cycle. When newspaper headlines tomorrow highlight the dire economic situation facing the economy, many contrarian investors will see this as a signal that we are near the bottom. The stock market front runs the economy by around 6-12 months and so we think as the Australian economy improves before the end of the year, the stock market will pre-empt this and continue rising. Not in a straight line ofcourse. We continue to hold the view that Qantas is still trading at a discount to its replacement cost value, it hasn't been valued on earnings merit for a while now and understandably so - its losing money. (VIEW LINK)
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