Ah well, so they bought Formica in 2007 for US$700m and are selling now for US$840m. That's roughly 1.5% capital appreciation per year, less than inflation.
Not flash, but I guess - could have been worse, couldn't it?
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"Prediction is very difficult, especially about the future" (Niels Bohr)
Ah well, so they bought Formica in 2007 for US$700m and are selling now for US$840m. That's roughly 1.5% capital appreciation per year, less than inflation.
Not flash, but I guess - could have been worse, couldn't it?
Fonterra would take that on a lot of their acquisitions/investments.....
Mid point of previous guidance was $675m. Mid point of updated guidance is $635m = $40m downgrade.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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