I started buying Las Vegas Sands at US$5. I bought too little. I also took profit too early and sold off half at US$30. I am still long on this but I cannot understand the logic.
The company will probably achieve US$2.20 EPS in FY11. At US$46, PE is ridiculous at 21x. It's price to book is even more ridiculous at 5.2x. But it's ROE is very high at 32%. I need to get to the bottom of this mystery. In terms of charts, I would take some profit now because it's in the upper channel. But it never seems to go down.
I'll get to the bottom of this. Meanwhile, the stock has paid for a lot of my expenditure this year! It sure pays to buy a casino stock than to gamble in a casino!
