Originally Posted by
Baa_Baa
A comparison chart would be more helpful if you wish to correlate the SP to bond rate and OCR. Picking just the SP highs and the corresponding bond rate and OCR could be misleading. Leaving out 5 years between 2013 and 2018 could also be misleading. To illustrate the full picture, plot on a chart the monthly SP vs Bond Rate vs OCR for every year, say for the past 15 years or as far as your data goes back.
HLG is a gut wrenchingly volatile SP, people deserve to know that, ATH's are for as long as the SP history goes, followed shortly by capital destroying lows. It takes a special kind of detached investor to ignore capital fluctuations over a long time period in order to solely enjoy the earnings of this company.
The current proponents I feel have no intention whatsoever of experiencing the SP lows of the lows, and are proven to be nimble enough to change their mind when the capital price scenario changes to a downtrend, which it will in time.