Ann: Half Year Results Analyst Presentation, page-112

"no dividend makes it less attractive"

But what if a company, instead of paying dividends, can invest in the business at supernormal rates of return, which increase the intrinsic value of the business?

Surely that makes such a business more attractive?


"note: i never posted on this forum to downramp the stock. i am not that interested in arguing. if my short is a dud, so be it"

No one is arguing; all that I am doing is conducting a discussion on the stock, by pointing out some aspects of CSL and its valuation which you have overlooked. (Just as I had overlooked them many years ago before someone kindly corrected me.).