As I said Benson you can choose whatever figures best suit your...

As I said Benson you can choose whatever figures best suit your sentiment and you have disclosed your sell sentiment so it’s appropriate you use bottom end guidance figures. Those with a buy sentiment will no doubt look at the top end guidance figures. My point was that even bottom end guidance figures show growth which is a turnaround from the past five years at least.

Depreciation is important as it goes to cash flow which ultimately determines ability to on pay dividends. Write-offs for poor expenditure decisions are certainly unwelcome but are an inevitable part of running any large business. I have a wide cross section of companies in my portfolio and all of them have made poor decisions in the past which resulted in substantial write downs - granted some more than others. if you understand the nuances of company accounts better than other investors then that gives you an edge - and good for you for gaining that additional knowledge. Great that you share that with others on the forum so that they can consider those views.

I don’t disagree with your view that Penn has been a poor CEO but in my opinion he will be gone as soon as t22 is complete - if not earlier.

I am in no position to comment on the figure you quoted as sponsorship for ballet but I did have a look at Telstra’s Awards, grants and sponsorship page in their website and note that their programs cover a wide range of interests. For all I know, there may be more young kids doing ballet than playing esport.