where to from here, page-67

I don't think I'll read a better explanation of the limitations of ROE (esp when used in isolation) than that provided by Camden. I would love to watch a serious debate (facilitated by someone like Alan Kohler) between Camden and Roger on this very topic.

Camden. 2 questions.

I know you like to buy and hold long term. Nevertheless, you do sell on occasion. Ignoring tax implications (many, myself included, have losses cf from the collapse of mining service stks in late 2008)... at what price do you consider WES 'fully valued'?

Despite my enthusiasm for Roger's enthusiasm, I didn't buy into his tip re CCP made about 12 months ago. It has since risen substantially, but I simply can't understand the risks inherent in CCP's model and the macro effect of a 2nd GFC on this business. Hence my avoidance. Perhaps one day you could give us yr thoughts re this company.