Qantas a flying speccy gold stock?

Last week m’colleague Gaurav Sodhi made the case that there was a price for everything, even Qantas, although ‘the price wasn’t quite low enough yet.’He’s right of course. Even hopelessly managed businesses in awful industries can make for good investments if purchased cheaply enough. Where I’d depart from Gaurav’s view is in the idea that Qantas will ever trade at a price low enough to warrant an investment in this particular hopelessly managed business.Australians remain confoundingly attached to Qantas, a function of its foundational role in the life of the country since white settlement and a hugely successful advertising strategy...

Last week m’colleague Gaurav Sodhi made the case that there was a price for everything, even Qantas, although ‘the price wasn’t quite low enough yet.’

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