Budget airlines = low profit margins = corresponding low P/E ratios, but when sentiment and hype generated by sponsors lead to unjustified high P/E ratios for IPO ....... smart money buys in expectation of selling to the credulous at higher prices not that the venture itself will become as wildly profitable as the high P/E ratio implies ....... yawn, there's nothing new under the sun ....... now, I want to go back to sleep ....... zzzzzzzzzz ........ and one more thing, I like this John Law rascal, one of my heroes .......
[video=youtube;P7ZEZR3PvZU]https://www.youtube.com/watch?v=P7ZEZR3PvZU[/video]
[video=youtube;P7ZEZR3PvZU]https://www.youtube.com/watch?v=P7ZEZR3PvZU[/video]