AGL, the big gentailer.

NSW electricity prices (generic baseload) have gone through the roof again.

So has day ahead nat gas prices.

And yet AGL is trading on 9x forward PE, and is ~$10.30/share. In prior periods of strong prices, AGL was north of $20 bucks.

Sometimes, investing can feel a touch frustrating. Meanwhile, COH (the admittedly wonderful) hearing company is on a forward PE of 55x, FPH a slightly lower 53x, and REA your for (again) 55x. Wonderful businesses are coming with (what we regard as) extreme prices, and the very thing that keeps the lights on is priced at 80% less, per dollar of earnings.

Now, perhaps this is all famous last words, those wholesale electricity prices could well collapse back, they are volatile after all. But still.

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