Come on in – the water’s lovely
- From: Vol 4, Issue 6 (June 2003)
- Category: Market insight
- Region: Unspecified
- Country: United States
- Related Companies: American States Water, Kelda, Philadelphia Suburban, RWE, Severn Trent Water, Suez and Veolia
Any investor who bought into one of the three big international water companies, Suez, Veolia (then named Vivendi Environnement) and RWE in June 2001 must feel now as if they had spent the last two years in an acid bath.
The value of their investment would have been eaten away in front of their eyes. $100 put into the three companies weighted by their market capitalisation on 1 June 2001 would have turned to $60 today – the same amount put into the Dow Jones Industrial Average would have yielded $80.
It doesn’t seem right. Water should be a defensive ...
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