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No. of Recommendations: 1
Hi Chris

I bought some more resmed shares, and when and if it drops lower I will buy some more. this company has no debt, has a sustainable competitive advantage, a great managment team and is making money.

If I thought it was OK at above $10, I certainly think it is OK at this price. It is the only company that I own that has a very hig PE and is expensive but I have gone in with eyes wide open.

I believe it is a company for the long term.

OK it went down - so did coates (i bought at $1, sold at 70c bcs I was worried - increase in debt etc but they were open with me and their financial controller returned my phone call and answered any questions I had - it is today $1.85; orica - bought at $10 sold at $4.50 is now above $10 - I didn't investigate it enough (financial statements etc going into the company and going out of the company - new managment is turning the company around). One last one that I did not loose money on Santos - bought at $3.50 went to about $8.00 fell to $4.00 went up again went down again - I kept looking at the financials- this company is doing all the right things is improving its earnings every year, has conservative managment, dividends doing fine, etc. So what is going against it - the SA govt has in legislation limited shareholdings. so the company's price is still low. did I buy more shares below $6.00 - yes. Did it take me about 5 years to learn what is going on in the company - yes. Am I going in with my eyes wide open - yes.

so the above is why I bought more resmed shares for the long term - probably about 10 years - it is in my superfund.

I hope that helps

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