I have watched the company bounce from bad news to bad news over a few years, the SP has been more than resilient to the constant shocks that would end most companies.
I reduced marginally years ago on the bad news. This has been a mistake the strong moat has kept the SP alarmingly healthy. Because of the moat l have given up waiting for the fall l was hoping for average results and a healthy fall again in the SP; l will just re purchase.
when l saw the results l cancelled the order. Wide moat companies (CBA REA WES etc etc) l think are too hard to predict.
I guess eventually there will be a tumble before the chess system is replaced it’s just not today. Despite the larger remaining holdings performing today l am honestly disappointed, l wanted to add.
- personal views and opinions definitely not advice
ASX Price at posting:
$67.92 Sentiment: None Disclosure: Held
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