Deep value investing - Qantas
Snapped QAN.AU at low $5 in early April when negative media reports emerged on bad consumer sentiment. I knew it is a high conviction buy because corporate & consumer sentiment are often decoupled. The new management is on the right track coupled with their quasi-duopolistic model. Overall branding remains strong with buyback underway. The cyclical fuel price has also been baked in into their P/E. So it’s a no brainer with almost 20% return in less than a month.
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