serious comparison for agm holders to ponder, page-23

hi HK
the difference with the buffett concept is that buffett buys for the future earnings but he will not pay a price today that is equal to the price it will be when it has earned those future earnings.
ZFX wont pay now what its worth in 5 years and neither they should.
what will it be worth in 5 years? no one knows.
Why would you pay for it now?

Also my main argument and no one here can tell me why AGM is better value than WSA MCR SMY etc.
The reason zfx are interested is that they are in tassie and zfx has infrastructure there already and synergies would be attained.
Therefore zfx are prepared to pay a little more than others would and that is factored in to the $1.
Without the collapse of January etc then they may have had to pay $1.20....i dont see it now...but no one knows exactly do they?


cheers