Peak oil is more than just a theory and demand is growing inexorably. Most experts I have listened too on CNBC believe the supply demand situation is tighter now that at any point in recent years. One major exogenous shock or geopolitical event is all it would take at this point to see oil rise dramatically. Long term I think there are legitimate concerns as to whether producers can produce enough to meet demand with oil at reasonably affordable prices. Time will tell.
In which case tourist holidays will be the least of our worries.
I just talked to the young gardener who works here a few hours a month, and who is a very keen environmentalist, and he said he and his generation would far rather drive around independently than hit the motel/hotel trail.
I just talked to the young gardener who works here a few hours a month, and who is a very keen environmentalist, and he said he and his generation would far rather drive around independently than hit the motel/hotel trail.
Sounds like what most generations want to do when they are young.
Sounds like what most generations want to do when they are young.
Exactly - the old VW Kombi around Europe or backpacking wherever. Certainly could never afford or even contemplate a hotel when I was backpacking (apart from in real cheap countries). Doing this, also have more time 'travelling' rather than a middle aged person on 'holiday' so different time frames and pressures.
Although in NZ would have to do the maths on campervan/park fees etc vs rental car and motel....
Got to respect technical analysis at times like this. The market is telling people that SUM thing is wrong and its by no means the only chart that is ugly, SUM others are too !
Much safer for risk averse investors to wait till these quality companies (that arguably simply got too far ahead of themselves with their share prices) to break back up through the 100 day MA before considering investing again.
Ecclesiastes 11:2: Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
Not surprising really ...its all in the free cash flows
Was this really $6.89 not that long ago .....40% is some crash .....must have a high degree of irrationality back then ....even 10 bucks was mentioned as a possibility.
At the top of every bubble, everyone is convinced it's not yet a bubble.
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