2017 AGM, page-52

The price crashed after we went into 300? But if it’s good it’s good

Anyway on a different matter Pb I have to thank you here again for recommending Intelligent Investor last year when I was having a hissy fit and running it down (*ahem* becausetheydidn’twanttofollowNRWwhenitwasdoing sowell) Accordingly had a look at them with less resentful eyes and ended up buying stock in another local company which seems to have now turned a major corner. If you are also drinking beer to celebrate this you are doing it very quietly so I just wanted to convey my appreciation once again.

And on a different different matter, what you said about the possibility/probability of institutions involved with us not having dividends as a priority makes sense which , in my enthusiasm, I didn’t choose to consider.
Yes obviously there are a variety of funds providing wares for hunters of all kinds of investment ; high risk, safety, dividends, growth and all the rest .
In mentioning that I thought institutions were expecting it it I was just remembering back to last AGM when Jules said he knew it was on people’s minds ... (my assumption was ‘people’ meant Fund Managers )
As he pointed out acquiring Golding was far better use of the profits which equated last year -according to Commsec- to 9.8c a share.
This year Commsec expects us to achieve 6.8c a year in earnings. (Sadly despite my letter and two phone calls they have not updated their research pages ) but most people here think it will be more than that .
Anyway even if Wellington doesn’t care there are a lot of long term shares held by CBA.
Cheers



Latin for the day :
NRW descriptor :
Libens Valens Potens
Ready, willing, potent