So long for the short case that Singapore was contracting! With Macau poised to make over $30 Billion this year and LVS rolling out lots 5&6 on the Cotai strip are you really going to sit there and be a bear on LVS? Really? Get a brain.
They estimate 25% growth for 2012, from $6.5 billion in 2011 to $8.1 billion in 2012. That's 25% Sales Revenue growth. That should be 50% increase in earnings or a 100 times p/e ratio (although less since it will not grow at 25% for too long).
Nasa, you should know better than asking why we are at $39. LVS has a beta of 3.9.
The dow was 12,900 last time LVS was at $48. Do the math: Dow down 5.4% multiplied by 3.9 = 21.06% decrease for LVS. 48 x (1 - 0.1755) = $37.89%(compared to $39.78 as I write this).
So everything else being equal, even after factoring in the Jacobs affair, the current price of LVS is not doing that bad.
I don't follow all the stocks in the universe, but out of those I do, the same happen in the last six week for high-beta companies like GE and AA, which went down substantially in the past six weeks for no other reason than their beta.
So it would be reasonable to assume that everything else being equal, LVS will be back above $48 if and when the Dow goes back to 12,900.