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Re: [sharechat] Averages by macdunk


From: "Pat Fields" <pat_fields@hotmail.com>
Date: Wed, 09 Jul 2003 01:41:59 -0400


Hello Snoopy

>You put up the value of your house.  I will match that equity with an 
>investment in a portfolio of five shares I have selected in accordance with 
>the criteria espoused by Warren Buffett.

This is an interesting proposition, which I fully support (and would like to 
join in on your side, of course :-) ).

I guess the essence of what you're saying is that your portfolio of five 
shares is likely to grow at a compounding rate of 15% (as per WB screening 
criteria) starting today and for the next 10 years - property is likely to 
underperform such total return.  However, the rate of 15% assumes that the 
purchase of shares is made at a point when Mr Market goes a little bit funny 
(peculiar), and this may not be happenning now or in the foreseable future.  
  Anyway, the point of this comment is, in a sort of randabout way, to ask 
you what five shares you would choose if the bet were accepted, and whether 
you'd buy them today.

I suppose that only very few shares would fall in WB's category, and I can 
only think of WHS, MHI, AIA, POA, POT, LPT, and SKC.  You've analysed some 
of these in the Focus discussion group and come to the conclusion that, at 
today's pirce, none would seduce WB.  Perhaps only WHS and MHI are at a 
relatively interesting price. So... what would you do?

Cheers.

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