Current sp IMO is implying that the financial crisis is going to extend to 2012, when MOF has its next lot of material debt due for refinancing.
If that's the reality, then I think we will all have a lot more to worry about than the price of MOF. IMO, it would mean the longest depression on record!
Anyway, can't see it happening. The markets are too global and integrated, and free to adjust. Much of the deleveraging IMO will be dealt with by end 2009, and certainly by end 2010. With short term rates being held down and banks increasing margins, this increase operating margins and cushion write offs.
In short, MOF is a sensational buy IMO.
Current sp IMO is implying that the financial crisis is going to...
-
- There are more pages in this discussion • 3 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
