Hi all,

Hamish was incredibly generous yesterday in sharing his journey, his habits, many life and investing tips (essential listening for our kids) amongst a multitude of other insights.

He is without doubt an outstanding individual .. Not even “halfway through my productive life at the moment” he mentions … what a fascinating 30 years we have ahead for us all if that’s the case.

Hamish’ humility and intelligence is absolutely captivating. I trust you’ll enjoy, and welcome any feedback.

See below for the recording of the webinar and brief summary of key time markers.

Regards,

Luke

Hamish – “I think the ability of Warren [Buffet], Charlie [Munger] and Frank [Lowy] to work into their late eighties and into their early nineties has led them to incredibly rewarding lives, and I just really hope that I can work and I still have the wherewithal and the health to work for forty years… that means I’m not halfway through my productive life at the moment… if that is correct. So I very much hope there is a lesson in that, I hope I can live for a long time and I hope I can still stay deeply engaged”.

Introduction – Start to 5:10
0:00-4:05: Introduction to Hamish, Magellan world class business with $100b FUM
4:05-5:10: Hamish family update

Hamish’s background and journey – 5.10-22.25
5:10-7:14 – Education, interest in finance and first job.
7:14-9:50 – Mentors and meeting Chris Mackay (Managing Director and Portfolio Manager of MFF)
9:50-10:25 – Hamish’ first investment first year of university
10:25-12:00 – Hamish’ first two major investments after being introduced to Buffett
13:10-17:05 – Question ‘Tell us about this great leap you did with Chris, leaving investment banking to start up a funds management business’
18:45-22:55 – Question ‘What are some of your daily habits… Has that evolved since the COVID lockdowns?’

Big Macro Themes & Talking points – 22:55 to 39:55
23:35-28:50 – Question ‘What, if anything keeps you up at night?’ – Hamish on how the funds are structured to handle the unknown, on climate change, COVID vaccines.
28:50-34:10 – Question ‘Can you give us an update on the US election… what impact would that have on markets?
34:10-37:25 – Question ‘Why is there such a large disconnect between what is going on with the economy and the markets’
37:25-39:55 – Question ‘Is there potential for further re-rating of stock in a no interest rate environment?’

Magellan’s Business & Major Initiatives – 39:55 to 53:45
42:30-48:15  – Overview of Initiative 1 – the restructuring of the Global funds, and the impending launch of the retirement income stream product.
48:15 -53:45 – Overview of Initiative 2 – Investment into Barrenjoey & FinClear

Final Questions for Hamish 53:45 – 1:07:03
53:45 -58:15 – Question ‘For our younger investors, what is a tip, whether it be personal, investing, or professional.. what would you like to impart on the younger members of the audience?’
58:15 – 1:01:20 – Question ‘Buffett and Lowy both turned 90, and Munger 96, very active in following their passions… What’s next for Hamish over the next 40 years?’.