Ann: Positive Results from CSL112 Phase 2b Trial, page-43

I couldn't agree more-"I do find it somewhat interesting that CSL’s first “speed hump” in many years was hit by new management. Long-serving, highly respected CEO Brian McNamee has retired and the new CSL leadership simply doesn’t have his impeccable track record. That doesn’t mean they won’t through time, but it’s fair to say Brian is a hard act to follow." McNamee originally started the share buyback at a modest level to return excess earnings to shareholders. The new management has now ramped up the share buyback to give the impression shareholder returns are increasing by borrowing rather than using earnings. I got rid of TLS for that and other reasons, and I'm lightening up more on CSL as, for the foreseeable future, there are better opportunities elsewhere. . The share price was $103.72 when Charlie penned the above story.