Originally Posted by
BlackPeter
Well, maybe we overanalyse things a bit.
Just remember what my grandparents (who lived through the big recession, through the 1918 Spanish Flu pandemic, through two world wars, through hyper inflation and two currency devaluations back in Germany) told me:
The people who used to hold shares from manufacturing companies like e.g. Siemens, BASF, Krupp, ... still had their capital after all these troubled times. They still owned shares in companies producing value and making money.
The people on the other hand who put their money into a bank account (or under the mattress), they lost it all. Not once, but twice.
I would see FPH as one of these great companies, which always will hold value, come inflation, war or climate crisis. Same MFT (and some other of our blue chips).
This must be worth something. Has nothing to do with growth, but growth is a premium.