The ideal business is one that earns very high returns on capital and that keeps on using capital at those very high returns. That becomes a compounding machine. So if you had your choice, if you could put a hundred million dollars into a business that earns twenty per cent on that capital - twenty million - ideally, it would be able to earn twenty per cent on a hundred and twenty million the following year and on a hundred and forty million the following year and so on. You could keep redeploying that capital at those same returns over time. But there are very, very few businesses like that... we can move that money around from those business to buy more businesses.

Warren Buffet

Latest Papers

The working papers collection comprises historical papers as well as current ideas and works in progress on some of the major issues and topics of our times.

Governing NSW - Premier (released 20 March 2007)
Peter Debnam is a leader who came to power after the tragedy of John Brogden’s personal and political meltdown. Morris Iemma came to power as a virtual unknown Labor machine man. His backers tainted his Premiership. The battle between the two has been uninspiring.
» more
Governing NSW - Transport (released 20 March 2007)
The crisis in NSW public transport and road infrastructure, made the transport portfolio a hot portfolio with relatively high performance from the major parties. Gladys Berekjiklian in our assessment has just tipped the performance of John Watkins.
» more
The most accountable parliament in Australia? (released 10 March 2007)
Western Australia has the most accountable parliament in the country. Its hard working parliamentarians were in the chamber for seventy days of the 2006 calendar year. Premier Carpenter take a bow!
» more
Liblabs - the ultimate swingers (released 7 March 2007)
In the 2003 State and 2004 Federal election roughly 450,766 citizens of the great state of NSW voted for Bob Carr and John Howard.
» more
Fundamentals (released 3 March 2007)
In a bad week for Kevin Rudd its time to return to the fundamentals of winning Federal elections.
» more
State & Territory Taxing and Borrowing 2006-7 (released 8 February 2007)
This short brief shows the extent to which States and Territories tax or borrow on behalf of their citizenry in 2006/7.
» more
Australian Prospect Subscription (released 5 February 2007)
Subscription to Australian Prospect
» more
Australian Prospect - Single Paper Purchase (released 5 February 2007)
Purchase a single Australian Prospect article.
» more
Pincers of the Scorpion - The Game Changes for Kevin Rudd (released 29 January 2007)
A graph of opinion polls over the past twelve months now looks disconcertingly like a scorpion with pincers raised. The Liberal National Party’s numbers have bottomed, Labor’s are moving down from a high. As the nation comes back to work, Howard seems back on track.
» more
Media Complimentary Copy (released 13 December 2006)
Complimentary copy of Fine Lines
» more

Pages