Q: Would you reduce your holdings in Telstra if you had a good profit? And what is your opinion on Challenger (CGF) – is it a buy at $7.50?
A (By Paul Rickard): You can never go wrong taking a profit. The question is - where will you invest the cash?
With Telstra, I don't think that you are going to see any real selling pressure until interest rates start to go up. Even up near $6.00, the yield is still relatively attractive.