Here's two interesting charts on Singapore Airlines (SIA) that I found doing simple desktop research in late June. It shows the destructive nature of dilution including rights issue and other forms of equity capital raising. These charts illustrate how dilution works negatively for investors and they are great reminders that we have to invest in businesses with strong franchises which require little need for additional capital constantly. The first chart below is a snapshot from Google showing SIA's share price since 2008 or so. This chart adjusts for the recent rights issue that SIA or SQ (its flight code) did in order to survive. The share count has since more than doubled and as such Google adjusted its share price accordingly. Historical prices now showed that SQ did not trade above $10 for the past 10 years based on the new share count (which is more than doubled before its rights issue)....