whats rogers valuation now, page-28

North,
I think we are on the same page here, you are correct the isssue is the results have not met expectations. My argument is that his ratings system argues eg for JBH ,WOW that it is very difficult for competition due to some sort of competitive advantage.
JBH has been a bit like an australian test cricketer from NSW - very hard to dislodge and somewhat of a protected species. MCE on the other hand has gone from being mentioned in the same breath as these sorts of companies to being dumped into the speccie bin post results.
This does not give roger a great image as a selector of management or businesses, just one of a number cruncher with some spreadsheet skills with no real life experience.

He once argued that Microsoft was not an A1 company because of the issue of alternative OS arising from tablets etc, despite the fact that MSFT had had some stellar results. Cant we see a double standard here? MSFT has been held to a much higher standard than say MCE. Microsoft has a huge moat and is performing very well and has done so for many years- why then argue that Microsoft is not an A1 company ? I would certainly invest in MSFT at $24 than MCE at $10