Thanx Ptialv, good to see some old heads still around.Atm i'm...

Thanx Ptialv, good to see some old heads still around.Atm i'm just focusing on my other core holdings i.e. cou,trs,bkl and wes and have a little bhp as well but these are my main long term holds and these type of businesses are the ones which i can sit down and convince myself that they will still be around in the next 10-20 years and what i do in the meantime is monitor important announcements and yearly reports which can potentially effect the value of the business.

I think i mentioned this a while ago but wesfarmers made a big mistake in purchasing coles for a large sum.These "Big Cats" don't realise when they over pay for a company the shareholders suffer.Maybe one day they'll wake up.I still hold wes and have been for quite a while.I just hope Terry Bowen can replace Mr Goyder but i guess its only a matter of time.

General rule of thumb outside property stocks for me i.e. my core holdings is>> what the business is worth?... r.o.e. of 12.5% or better, great business,honest and capable management little or no debt and very important also is what these companies are retaining i.e. at least $1 of market value for each $1 retained.

I assessed cer differently and even though we are faced with a few hurdles in the short term i believe we'll continue to have the support of our banks and the banks will realize that it's to painful especially in this environment to put cer or cnp into receivership knowing the hundreds of malls that cer and cnp own and if they were to go down that path i.e. fire sale of assets then they will be losing billions of dollars. Not on the banks agenda in my view and if so this would have happened along time ago.

So yes we have come this far and been trading in this mess for nearly 2 years and it's only a matter of time before the business starts to rock and roll again..i.e increased equity over time, future dividends and debt reduction but "Patience Is The Key" keep in mind this will take a few years to get back on track and i have at least a 5-10 year target but most importantly i will be monitoring any announcements that destroy shareholder value and won't be afraid to exit my position but atm still believe we are way undervalued.


Cheers...