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CSL, CSL LIMITED
plastic
post Posted: Dec 19 2019, 05:01 PM
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In Reply To: mullokintyre's post @ Dec 19 2019, 01:59 PM

A misspelled one. Doesn't detract from the point I make however. The point of confusion was that both were/are federally sponsored. As are NZ's CRI's.

Imagine how the original investors must be feeling now. They must be in all the best graveyards around town.




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What did Uncle Mel do to us?
 
jacsar
post Posted: Dec 19 2019, 02:33 PM
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In Reply To: jacsar's post @ Dec 19 2019, 02:30 PM

both formed 1916...my apologies

 
jacsar
post Posted: Dec 19 2019, 02:30 PM
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In Reply To: nipper's post @ Dec 19 2019, 09:58 AM

A simple search.... https://en.wikipedia.org/wiki/CSL_Limited

 
mullokintyre
post Posted: Dec 19 2019, 01:59 PM
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In Reply To: nipper's post @ Dec 19 2019, 09:58 AM

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you copralitic dufus.

Would have to be the insult of the year.
Mick



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nipper
post Posted: Dec 19 2019, 09:58 AM
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In Reply To: plastic's post @ Dec 19 2019, 09:02 AM

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With CSL having come out of the CSIRO stable
no it didn't, you copralitic dufus.

Maybe it was Credit Suisse?




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
plastic
post Posted: Dec 19 2019, 09:02 AM
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With CSL having come out of the CSIRO stable and having unheard of success from listing, I have to wonder why the Kiwis didn't take a leaf from the same book by listing something from their Crown Research Institute suite. The universities have all set up commercialization arms but as far as I know, not the CRIs. Which is surprising since they once had an Australian serial entrepreneur as the CEO.

Something must be missing in the equation because I can't believe the money spent over the last 20-30 years has yielded nothing the market is interested in.



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What did Uncle Mel do to us?
 

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nipper
post Posted: Dec 13 2019, 12:11 AM
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CSL does not fit the mould of the typical company in the top 200 which pays out 60 to 70 per cent of earnings in dividends. CSL's dividend yield is about 1.5 per cent and its payout ratio is less than 50 per cent.

"We are not a high divvy stock not because we don't want to pay a high dividend," CEO Paul Perreault says. "We want to reward the shareholders, but we also want to balance that against the capital demands because we're a highly capital-intensive company.

"When you look at the size of our facilities and what we have to do, these are massive biologic manufacturing facilities with a lot of stainless steel and filtrators, lyophilisers, pasteurisers and other big, heavy equipment. "We also want to make sure that the R&D investment and the expansion of the translational medicine through our commercial activities is all being invested in."

- trading at 40x forward earnings



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Dec 7 2019, 10:56 AM
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https://www.sharecafe.com.au/2019/12/02/csl...d-of-foresight/



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
blacksheep
post Posted: Nov 29 2019, 02:26 PM
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In Reply To: nipper's post @ Nov 29 2019, 09:29 AM

Credit Suisse ups CSL price target by 24pc
Luke Housego
QUOTE
Credit Suisse has raised its price target for CSL to $305, up 24 per cent, citing the pricing growth opportunity in Europe for the company's IG segment.

"All plasma participants have noted a tight IG market where demand is currently exceeding supply," the analysis noted.

Retaining its "outperform" rating on the stock, the investment bank's analysts increased its earnings per share estimate by 2 to 3 per cent across the forecast periods to the 2022 financial year.

"While CSL's valuation may be viewed as demanding, trading at 38.4 times 12 month forward price to earnings ratio and at a 90 per cent premium to ASX200 Industrials (ex-financials), in our view, the valuation is justified given CSL's strong market position in a niche industry that has robust fundamentals," the analysts said.


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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
nipper
post Posted: Nov 29 2019, 09:29 AM
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If it hadn’t been for index heavyweights such as CSL, Macquarie Group, Transurban and Goodman, it would have been near impossible for the ASX 200 to reach for a new all-time high in 2019. Yet, the sad fact remains most investors don’t own shares in CSL, though some may have owned shares at some point throughout those 25 years.

The usual explanations heard are “too expensive” and “cannot get my head around it”. This goes both for the self-managing retail crowd as for professional fund managers. The logical observation to make here is that everybody who bought shares in CSL, no matter when or at what price, is today sitting on a profit.

With the shares trading on a FX-adjusted, forward-looking estimate of about 37 times FY20 earnings per share, it will nearly always be too “expensive” for typical value-seekers, while the implied 1.2 per cent dividend yield is too low for the income-hungry.

Maybe, without owning shares in the company, there are some valuable lessons to be learned from CSL for investors of all kinds and various levels of experience.

In 2019, all three major external factors have ultimately aligned to push CSL shares to a new all-time high. This is not necessarily always the case. When bond yields rise strongly in a short time, as they did in late 2016, CSL stock temporarily faces a formidable headwind.

When the dollar strengthens against foreign currencies, this also tends to create a headache, and similar underperformance follows when investors temporarily favour cheaper-looking, beaten-down cyclicals like they did when the GFC bear market ended in 2009-2010.

Another complicating matter is the fact that CSL is now the number three index component in Australia, which makes the stock more susceptible to general market sentiment. Whereas in the past the shares were at times able to not necessarily follow general market sentiment down, such idiosyncratic behaviour is a lot more difficult when large sell orders aiming to replicate the index hit the local market.

Most importantly, however, is that 25 years from the past show that whatever external factor is holding back the stock at any given point, as long as the business continues to perform, its shares will ultimately perform, too. As such, every period of weakness or stagnation in the share price ultimately proved a profitable entry point.

This takes us to the operational reliability that has become one of the trademark characteristics of CSL. How come most businesses cannot replicate the solidity and sustainability of CSL? Never a profit warning. Seldom an operational disappointment. This company, throughout various managers, has an almost alien-like track record in a sharemarket that regularly shocks through corporate failures and mishaps.

The answer is two-fold.

● First, CSL has managed to transform itself into the highest-quality benchmark for the plasma industry globally. It operates collection centres more efficiently than anyone else, which means it can open additional centres quicker and earn its investments back in a shorter time.

● Second, in line with general industry practice, CSL invests about 10 per cent of annual revenues back into its business to expand through new centres and to constantly develop new products. It has a rich history for discovering and developing new therapies and medical solutions, which is necessary in the fast-moving and ever-evolving biotech-medical world...
FN Arena



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
 


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