Yeah, in such a short space of time that post hasn't aged too...

Yeah, in such a short space of time that post hasn't aged too well though has it?

Nonetheless, I accumulated more early this morning and may do the same if there's a further pullback (funds permitting). Last week, I reviewed "my rules of Investing" checklist that is made up of 8 simple line items that I try to adhere to in order to help keep my investing on track. Below those listed line items I have highlighted the following statement that applies to what I perceive to be high quality companies and that statement reads;

Back your decisions and stay invested. Don't fear the dips, instead - buy them and go shopping.

So I did. I've done it every time with CSL and I'm yet to regret it. But nothing in life is guaranteed, let alone the stock market.

As a retail investor, I don't have to justify outperformance to clients (just my wife!). My sole objective is to invest in businesses that I think will grow my invested capital materially over the long term whilst providing a growing dividend.

And let's take a step back here. Sure, it's a downgrade for CSL and does not meet the market consensus. This is a company that expenses US$1B into research and development. In fact, last financial year they increased that figure to US$1.1B. Now if CSL's end game was to please the boffin brokerage houses, then they would cut their R&D spend by a half, whack that US$550M into the NPAT column and actually BEAT market consensus and see an increase in their SP. But because they're a quality business, they're investing back into the business for long term growth that will benefit the following;
1. An aging demographic creating positive health outcomes
2. The growth of the company
3. The growth of shareholders invested capital
4. All other stakeholders that include all those knockers who own CSL indirectly in their superannuation funds

Everyone should make their own judgement and not take for gospel what I think, what other posters think, what brokers think or their dumb arse recommendations. Maybe when they dine out on their yachts, they eat risotto. Whereas, I don't like risotto. So I stay away from it.