breaking through resistence price of $9.35, page-14

I bought on 26 Nov 2002.

My research at the time indicated a selldown in response to a negative reaction to Bali bombing - where investor sentiment believed that there would be a backlash throughout SE Asia against Australian businesses. I remember working out that in the highly unlikely event that all of Indonesia stopped drinking Coke products - that the impact to the bottom line would be minimal - and I bought on that particular day. That it happened to be the lowest day of the year was more luck than anything else - however the reactionary window that opened after the Bali bombing was, I believe, a classic example of when to be greedy when others are fearful - and in this case has worked out extremely well for me.

Its never easy to do though - that greedy when others are fearful thing... I am confronted with a similar decision in a different stock this very minute... and I assure you I have butterflies in my stomach!

Lastly, did you factor in the franking credits in your analysis of my performance? Either way, CCL has provided a very satisfactory return for my thinking.