I don’t think I’ve ever seen such a terrible LT chart, it’s been on a relentless downward trajectory (lower highs and lower lows) for over a decade now.
Apart from the consistent decline, the other noticeable feature of the trendline is the transitory nature of the positive rerates. The sudden spikes are inevitably sold into and the fleeting value creation dissipates in the blink of an eye
Ann: Azure Completes Placement, page-66
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