Why do people invest in stocks that are have been putting out negative returns for the past 1-5 years, such as SingTel (Z74)?

Singtel has been a a dividend cashcow for many retail investors the past decade and is a solid bluechip monopoly giant. In recent times they are facing fierce competition with the entrance of a new telco so they are facing threats to its market share so far (hence the falling revenues) With the future of 5G, IOT and cloud computing, I personally believe Singtel will be able to propel forward ahead of the competition if they are able to emerge stronger out of this crisis. Do note this is my own long term view and I am currently a shareholder of Singtel. Stick to your own convictions and do your own due diligience, I wish you all the best!

Hope is an opium & lack of interest to delve into the fundamentals & just merely looking at its price point