TSX:HOT.DB.V - Post by User
Post by
flamingogoldon Aug 03, 2023 11:13am
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Post# 35571200
To quote the famous economist Keynes...
To quote the famous economist Keynes..."Markets can stay irrational longer than you can stay solvent."
HOT is trading at covid levels, when no one was travelling, when the distribution was cut to zero. Today, travel is practically back to pre-covid levels and a distribution has returned well below a payout ratio of 100%. Despite a with-holding tax, this should be trading at far higher levels. But... irrational behaviour continues to rule.
Depsite the common investing knowledge of "buy low, sell high", most investors trade with their emotions and buy when stocks are running and hitting all time highs. They buy high, and sell lower.
Timing has not been a strong suit of mine. It's why I don't trade. Waiting for the irrationality to get flushed out here is frustrating, but in the long run, we get paid to wait for rationality to return.