Ann: FY18 Half Year Results Announcement Date, page-202

I am not offended and welcome new ideas just tire of all the little people and all the same ideas.

To generalise Ben was a revolutionary but IMO modern "value investors" have diluted his ideas to bland conformity and stripped it of its vitality without understanding it's meaning. I read their stuff, then judged and found them wanting.

So there's a lot of people who manage money and implied in your comments are that such people are by virtue of managing these large amounts somehow smarter or better.

This is the kind of money = worth argument which I deeply reject. I never studied any finance just read really old books from Authors I whose ideas resonate with the sound of profound truth.

I prefer Kropotkin, Adam Smith, Nietszche, Wilhelm von Humboldt or Walter Bagehot to Warren Buffett, Joel Greenblatt and Howard Marks.
I don't think they have advanced the art one iota. I think Warren has privately but doesn't disclose the secret sauce, his focus on "good" companies muddies the waters.

Well the secret sauce is the same as it was when John Rockefeller did it - monopoly power. Competition is hell.

It's not that I don't understand the ideas you are talking about it's that I understand that knowledge is for doing, you can get in real trouble if you just think accumulating facts makes you better.

To understand this concept if you are open minded I would recommend the essay "on the use and abuse of history for life" as it is quite profound (if a little dated).

There may be value in aus but I stopped looking a little while ago. Um, you probably have better data than I do as I just crank through a stockopedia free month trial once a year

Whenever I have trouble I do that but I don't actually need to look right now. When my $205,000 USD cheque comes through from Santos (with a little luck) I will start scratching around in U.S.

I have been inspired by the work the short sellers are doing over there at present, surely any value investor can smell the heat and the madness and wants to bet against it. Especially Cohodes and Mimedix, Pete Petit was so obviously a greasy little crook and a beautiful short opportunity.

Right now I am setting the controls for hydro power stations and distribution networks, it's a real job that helps people so I find it more rewarding. Also we are very clever, much more clever than most finance people appreciate. You guys just see the end result and think it must be easy.

There's a thousand things that can go wrong, we understand the practical meaning of backing your judgement into an inherently risky and complicated endeavour. And of course the essential safety margin.

This is just another perspective completely ignored by financial analysts and therefore still useful where it yields different and correct information.

I just emailed everyone at work about Tesla allegedly batteries will displace the grid, again the shorts have part of the picture - they smell the bubble and the terrible financials. To close the case you would want to be 100% sure the Model 3 cannot be made and then get against it in a rather big way.

So to your question as to what's available I recently took a stake in TWR at the capital raising but unfortunately the price is up since then.
I don't have time to understand it but it smelled really cheap I suspect there's another 50% in it which is like ho-hum hardly worth bothering right? I will leave that sort of mediocre return to "professionals" like Bain.

There's another small NZ company that's illiquid which I certainly won't disclose publicly and is trading at 35% of my estimate of fair value with high certainty.

I am sure if I take time to look I can find some beaten down nasties in a forgotten corner. If the market stays hot I can't keep compunding at 35-40% per annum though - no way not just sticking to aus. Would have to branch out to U.K. as you obviously have.

Probably I have benefited in that nothing of value stays that way for long, my portfolio has been absolutely blitzed by takeovers - only SHJ and CDD, TWR and my other NZ holding left now. It's so much easier for us than it was for Ben, probably the takeovers are a function of a hot market and credit availability.

I am just limited in what I will say publicly 'cause if I like it I will be buying it with my buddies

I have shared a little info, what can you tell me that I don't already know?

GLTA