mmc asset management annual investment forum peter constable chief officer august 2006 2 objectives and agenda items discuss with you s philosophy process update on funds performance top 10 stocks in portfolios five focus winners losers 2007 outlook answer any related questions have 3 background thirteen year track record of managing australian equities assets under approx 600m full time staff majority company owned by well resourced profitable 4 5 based the belief that preservation capital is absolutely paramount to creation retention long term wealth 6 are looking for good reasonable quality earnings sustainable businesses industry macro cheap ie sensible prices price what pay value get sets your future return 7 a assume there three levels high annuity margin roce low debt b mid sits between & c intensive cyclical cash
