CSL possible pull back to low $200's, page-380

yes i could be wrong, but if I am wrong, I just miss an opportunity, my capital is safe.
But if I am right, my capital will be safer because I enter at a lower pricing point.

Nothing wrong with CSL business, but over paying for even a good business results by definition in reduced (or negative depending on the investment horizon) returns.

I suggest people google the nifty 50 to see the impact of over paying has on future returns.

By the way the correlation of the stock price to US 10yr bond yields is still holding. US 10yr bonds had a recent dip as the the market was over shorted and covering had to take place resulting in a drop in yields (increase in bond prices) and a corresponding increase in CSL prices off the lows. But this recent price increase looks to be faiding. In addition it looks like US bond yields are rising again today.

So i am quite happy staying on the sidelines with my capital safe and watching for my entry point in the low $200's.