Some advice to AGL shareholders, page-27

Hi Victor

One mans trash is another's treasure. It all depends on what you paid for your "poo"

I am going the Papa Buffet route and buying on the cheap when its unloved

I dont want to kick you but "Financial Crisis" proof "utility" is a Broker spin. Just pull a 20 year chart and you will see in the GFC it was no better than a bank .along with everything else

Its odd to me (maybe logical) that all that I see fit to buy reached its peak in the mid teens with most still too expensive to me because they are not being miss treated by the market. So many that are left on my shopping list are bid up because they are making a short term dollar in this crisis. I am not going to pay top dollar for a short term winner

With so much Market Cap ( ASX 100) worth buying down say 40% from its peak the real dogs are a joke to keep the ASX at its current level

Unlike past downturns for the market (predicting a crash) I think this time its going to be a very long road back like the 1929 crash ( 20 years to index par) and what Japan for the last 30 years and Europe is now going through and for that you could also include Australia which is just back to an index No from 15 years ago .

Maybe to make a dollar buy when they are cheap and trade in when they are expensive for anther down trodden company. Call it what Papa Buffet would do . For a dividend return it would need more thought about whats given up to make a capital gain which is taxed

On a glass half full side at least you get to not pay tax on a profit that can be gone tomorrow for your winners