CSL Chart, page-1109

3 year return with minimal dividend returns.
A duff of investment from a return perspective over three years. Many many investors could have achieved a higher return than this over the last 3 years.

5 year return with minimal dividends returns:


Performance better, but has 8 months left before that run up in 2019 moves into 2020. Dividend still a duff. (ie nobody should ever hold for CSL dividend!!!). If CSL share price doesn't significantly appreciate in the next 8 months, both the 3 and 5 year holding period will be a total duff.

ASX Accumulation Chart 5 years:


5 year ASX accumulation return 44% return.

If CSL doesn't get its act together, it will be loosing on both the 3 and 5 year relative return to the ASX 200 Total return index.

Yes CSL is a good quality company, I have never disputed this.

But over pay for even a good company and the future returns will be substandard.

Price is what you pay, value is what you receive.

In the short term the market is a voting machine (and boy oh boy does CSL have a strong voting machine chear squad as evidenced by all the buy buy posts on hotcopper!!!), in the long term CSL is still a weighing machine.

Over pay for the share, under perform!!!!