Steady Rise, page-23

The scenario you paint might well come to pass, although I must say that predicting moves in the stock market as a whole based on developments in international commerce and trade is above my pay grade. For the sake of the argument, let us say you’re right - there is 'a major decline in the markets'. Wouldn’t that mean one shouldn’t own any stocks at all (with the exception of those that benefit from disaster), not just NEC?

Check out the consensus valuations table in the broker report that @malmanu kindly posted on 24 Jan - clipped and pasted below. On a relative basis NEC looks quite attractive, I think. It also looks attractive in absolute terms...so long as scenarios of market-wide doom don't eventuate.


Source: Data in table from Bloomberg, table itself clipped from broker report posted by @malmanu in this thread on 24 Jan