September 2021 Quarterly Newsletter

In this quarterly edition we review performance attribution and cover businesses that reported during the period. We explore why uniqueness matters in our article "A funny thing" and look into why some businesses are geared for "Success or failure”. We compiled a table on "The Compounders”, which provides some insight into the power of real earnings per share growth. Our stock review this quarter is titled “OFX a marathon”. Our ESG commentary focuses on James Hardie and Modern Slavery. Finally, we finish with a personal comment on character in the piece “High Achievers".