new thread, page-182

interesting article on LIC's in afr today.

Short term sightedness is again taking fold. For all those that think wes is doing wrong for buying Coles they are dead wrong. Yes its going to take a while to turn around, yes retail will be the main focus now once its embedded. So what?
Regardsless of what state its in, they still produce alot of free cashflow, they are the number two in a cosy duopoly... i say forget about whats going on and stick with wes.
Lets not forget they recently acquired OAMPS on the insurance side and also have their existing operations. Knowing what they do and how they do it should not deter the slightest glimpse of doubt in wes. Let the herd panic or sell, in the meantine watch for the fat cheque and let wes continue to do what it does best... run a large conglomerate.