ST Engineering used to be called the defensive stock. However, under this down turn, it is not spared. Looking at the history more closely, one can realize that it did badly during the previous recession. The so called defensive by analyst is totally unfit.
SingTel:
SingTel is another defensive stock by analysts. Again, looking more closely at the past recession, it becomes obvious that this stock is highly correlated to overall economic cycle. It is not defensive as it is perceived by analysts.
1 comment:
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