Hi all,

BERKSHIRE NEWS

Well, I’m back from my now 5th annual pilgrimage to Omaha to see the 86 year old Oracle and his trusty 93yo sidekick in action. Both Warren Buffett and Charlie Munger are still very much on fire.

Will Culbert and Tom Millner (managers of BKI Investments) capture the mood and spirit of the festival beautifully, so if you want a terrific 7 minute read, check out BKI’s Berkshire AGM Special Report.

For those wanting to get a more detailed 15 minute feel for the flow of the conversation and humour, check out VGI’s Annual Berkshire Meeting Notes. It is brilliant.

As mentioned to many of you, this is one amazing experience which gets better each year. To spend a day (front row seats again!) with these 2 universal legends is an amazing privilege, albeit in front of an estimated crowd of 40,000 people. For me, it’s far far more than an investment related experience. It’s a top-up in common sense, a reminder to act rationally, that “a life properly lived is to learn learn learn all the time” (Charlie), to act with humility, to act with integrity, to not take yourself too seriously and to have fun.

I hope you enjoy the readings within these links above!’

FORTITUDE NEWS

It is with much sadness that we let you know that April Lowis has just finished her time with Fortitude. She has been given a fantastic opportunity to work with a global investment bank and we wish her all the best for the next phase of her career. Her integrity, intelligence and energy that she has shared with us all has been outstanding and I want to thank her for everything she has done over the last 2.5 years. April, you are welcome back here in a heartbeat.

Welcome Oliver Thornhill

On a brighter note, Oliver Thornhill (yep, #2 of 3 boys to the great Peter and Frieda Thornhill) has joined the business as an adviser helping in serving your needs. Ollie joins us after many years in financial services with 2 large superannuation providers. He brings to the firm terrific experience as well as an emotional intelligence and passion for investing that only one with the surname Thornhill could have. Welcome aboard Ollie.

Both Fletcher and Ollie were 1st timers to Omaha this year so make sure you have a spare 5 or 10 if you ask them ‘how did you find it?’

…. Ask at your peril.

Welcome Grace Caldwell

Fortitude has also been fortunate to secure the services of Grace Caldwell in a client services role. Grace is invincible and will have a red blooded go at filling the big shoes left behind by April.

Grace is studying Business Management at International College of Management in Manly, Sydney and brings a highly experienced client service focus to Fortitude after working in her parents’ hospitality business/restaurant in Port Macquarie since the age of 12! Please make her feel welcome.

Great to have you on board Grace!

As always, we welcome your feedback on anything in this note or other.

Speak soon.