a must read on us market a fall is near, page-28

In theory I could get buy with about a dozen.
In fact all my 'new' capital goes into few companies.
My biggest holding, by far, is WOW.

Many of my holdings are special situations, such as well priced IPO's/Privatisations CBA, CSL, IAG, T3, TTS, TCL, CEU, ASX .. FGL was a freebie, in specie distribution from BHP .. CCL I only bought for the first when the market -incorrectly marked it down to $6 last year.

Why do I not sell some of my take'em or leave'em holdings ? Because they are earning their keep. Instead of handing 25% of my capital to the Honourable the Treasurer, I use the icome from these holdings to finance those more desirable holdings which I am concentrating on.

If I had to pare the portfolio down to a dozen (which pretty much reflects typical my investment pattern) I would go for :

The 4 W's : WOW, WPL, WES, WDC
BHP, TOL, ASX, QBE
A couple of banks : CBA, NAB
Some Quality LIC's when available at deep discounts to market : ARG, AUI, DUI