maybe the market doesn’t have it wrong. Maybe the shares have...

maybe the market doesn’t have it wrong. Maybe the shares have gone up despite the KDR investment. They would have been up a lot more had they not invested in KDR. They are up because they are a good dividend payer, they retain 15% of Coles whose shares have gone from $11 to $16 since I have held them, and Bunnings is performing well. You can’t invest that much in KDR and then shelve the development without there being a significant cost involved. Just another really bad decision. Their arrogance in thinking that they could make a very costly move into the UK and compete in the garden/ hardware business was plain dumb. But what the heck, what’s a billion here and a billion there down the gurgler.