Peter Thornhill 2019

I was referring to CSL, listed around 2.30 but bell direct quotes the equivalent price factoring buybacks/splits 0.76 initial price but could be wrong.

Closed friday at $240! Plus dividends.

Even accounting for his dogs, CSL and COH would surely have juiced his returns.

My attempts to find the next CSL and COH have not proven to be as successful so concentrating on my core holdings!

 

I thought you were referring to CSL @Froxy.

When it was in the Government's fold it was viewed as a provider of cheap vaccines and nothing more.

I have read some comments of people bemoaning the fact the Government floated it. Usual stuff after the event when looking at its activities and profit now but those views ignore Government mindset. Not a chance in Hell would any Government even consider expanding the activities to the extent CSL has done over the years. It isn't what Governments in this country have the capacity or thinking to do and it isn't their role to a large degree.

 

He he, me too.

The reason why I remember the dogs in Peter’s portfolio (mentioned in his My Says) so well is I held a number of them myself. Also most of these were popular high dividend payers recommended by Huntley’s Newsletter prior to the GFC. As often mentioned beware the yield trap! It can hurt you in multiple ways.

 

Shhh. BKI remember.

 

They would have only done so if one held outsized positions of these in an overall well diversified portfolio. And with that comes concentration risk. What if these stocks went the other way? No one knows the future. These stocks are also constituents in old LICs / index ETFs so holders of these are not missing out.

There’s more luck than skill in all this. Peter held over 70 shares earlier on admitting he lacked analysis skill hence diversified widely. I’ve seen Peter sell some stocks at times because they were looking toppy only to regret it later. God knows how many investors I’ve seen over the years sell CSL because they thought it couldn’t go any higher only to see it continue to keep shooting the lights out year after year. Capital gains tax hit and they continued to wait on the sidelines wanting to get back when it’s share price came back to earth but that seldom seemed to happen.

I’ve also seen Peter say he could have achieved much of what he did by simply owning the old LICs. There has also been a tax tail wind thanks to the Howard era Super changes (being unwound bit by bit in recent times) which enabled the likes of Peter and some of us here to get large amounts into Super which turbocharged returns due to minimal tax.

Moral of the story - save hard, invest in growth assets, minimise tax then let compounding do its thing. Impatience is usually the investor’s worst enemy.

 

Yeah he’s still on the board from memory.

 

And it's been OK for those who hold. So take heart with the recent addition to QVE's board.

As to your last comment in the post previous for me that's all which is required. You are never going to shoot the lights out but you are better off to a large extent and it is way, way better than doing nothing or fretting over which direction to take.

 

I'm still recovering from the trauma

 

Getting back to PT.

I haven't followed him for ages and it's a long time since I read his book, although I did buy copies of a recent edition and gave them to my children but that was a couple of years ago. Come to think of it I may have subscribed to his newsletter but I used an email account I established for when I purchase stuff online. Probably haven't been into that account for close on two years.

Anyways, what I took from his views wasn't about investing as such but a general concept of keep on investing but don't focus only on money. The example of his friend who started investing after retirement but due to circumstances involved himself in various activities. The investing part was a side issue it seemed to me.

I'd like to be able to clone myself with the clone having any emotions over investing removed. I know what is going to happen to me when the next severe downturn eventuates. Be great to be able to ignore it and have my clone go "The amount of funds are currently $xx. ABC has SPP. This SPP causes Aus/International to vary and so XYZ is required to be bought. Next month $nn will be added to funds available."

It'd be brilliant. And while that all happens I've got my coffee, ham and cheese roll and go walking through numerous parks enjoying my surroundings.

I've talked myself into doing just that.

CYAs later.

 

Perhaps along these lines is the latest from Humble Dollar:

No Worries - HumbleDollar

 

I'm still excelling in that area also

 

From elsewhere:

 

Good old aspect huntley's stock tips, with suckers like me buying Emeco Holdings and QBE before the GFC. I suppose I should thank them for helping build my pessimistic view of stock picking individual companies!

 

Had never heard of the newsletter till today. But to be somewhat fair, all his recommendations were never going to shoot the lights out. If it did, we would be celebrating his birthday every year along with Warren’s.

By all accounts, he has not done too shabbily for himself too.

 

My stint in individual stock investing started with retail food group at around $4 which has plummeted to around 20 cents. Thats all she wrote folks! Stick to my day job and lic/etf and hardcore savings! Looking back what an absolute fool to think i can get in and purchase 2k (thank god it wasnt more) and think that would somehow make me rich!

 

Mine was a company called mint wireless. Bought at $0.37 pretty much the all time high. Then preceeded to drop to $0.02 before i sold purely so i wouldnt see the holding when i logged in. $1k well spent.

 

I kept it so when i feel like a super human investor i always see this transaction to keep me focused on lics and etfs!

 

I have an enormous amount of gratitude towards him for his teachings. I have never met him, never corresponded with him and I don’t expect to do so as well. I also deviate from his principles with regards to index funds and overseas allocation. But if I ever have an opportunity, I would like to shake his hand and thank him for what has done for me.

To me, he comes across as somebody who wants you to succeed. It is astonishingly rare in the industry he operates. There are no conflicts and he extremely transparent with his holdings. Heck, in an interview, he even said, “invest in ETFs if you want, but get started and do something”. No effort to obfuscate and no sophistry and most importantly, no intellectual superiority. Just an altruistic bent to help others (if and when they are ready). Very hard to dislike someone like that even if you occasionally disagree.

Finally, the other thing that PT says (“I envy nobody. My means far exceeds my wants”) is something I will be super chuffed if I can utter it myself at the latter half of my investment life.

 

Well said.

And if ever you want to take the opportunity to chat with him you will fund him extremely generous with sharing his time. Nothing to gain other than him wanting you to do well with the investing approach he so passionately believes in.

His book Motivated Money if one reads it properly rather than just focusing on the “how to invest” bit has at its heart the development of “emotional intelligence”. In this regard Peter practices what he preaches!

 

I've still got my similar holding. I know what you mean about not wanting to see it each time you log in, but I've taken a different view - I can't be bothered spending the time it takes to sell them because my time is worth money and these shares are worthless. So they just continue to sit there..... doin' nothin'............