Alan Kohler

So the intentions, the forward estimates intentions contained in each year's budget are completely irrelevant.

And we all sort of spend hours in a lock-up about it and write about it.

All right.

Okay.

Well, the other thing to talk about is CSL.

What's going on?

I mean, that was a shocker the other day.

But do you think, and you probably talked to the analysts about this, I mean, is it true that there's a fundamentally decent business going on there or is there something fundamentally wrong with the business?

Well, it's always been, you know, when they were 300 bucks or something and worth $150 billion, there was always a question of whether they could justify the PE that they're on, which is always like 40 or 50 times, you know, like double or triple the market.

And it turns out they couldn't justify that.

Yeah.

That's true, isn't it?

Yeah.

Do you think just to finish up on CSL, I mean, do you think and do analysts think it's fallen enough now or is there more to go?

Is it time to buy it yet?

Right.

Okay, time for questions now.

This is general advice only.

First questions from Aiden.

Simple question.