Tim Murrell

Charlie Munger reflects on death, struggle, and how he found strength to move forward. This timeless advice can help anyone facing tough times

Perhaps the strongest sign of a CEO’s integrity is keeping their hands out of the cookie jar, even when taking a few would have been justified.

@rhysdiab @ryu_tay 🙏 Let’s hope so!! Although considering residential real estate is our national religion I doubt it will go over well if they try and single it out.

@TimMurrell74077 @ryu_tay Fingers crossed for scrapping any change on shares entirely 🤞

I'm half thinking it might be a good idea to deploy cash aggressively on attractive, long term growthier companies before May 12 in case the CGT discount is grandfathered. No use having cash aside for a better deal when even if you get it, you're likely to be paying much higher tax on those gains. Can always reverse the decision after budget night if the CGT discount isn't grandfathered.

@ryu_tay @rhysdiab To be fair they’ve reported something different in the AFR each day recently but the latest leak seems to be that if you held an asset for 5 years under the old CGT rules and then 5 years post the changes being announced then you get a partial discount for those original 5 years

@rhysdiab Didn’t the news say it’s partially grandfathered? So the period from acquisition to 12th May will be grandfathered while after will be indexed

@rhysdiab Do you reckon the changes actually being announced knocks valuations across the board though Rhys? I guess that’s the main thing that could offset any benefit to making purchases in the next few days.

@GeoffWilsonWAM Hi Geoff! I recently did a write up on $WGB for my hobby investing blog and would be interested to know what you think (I've been a holder since 2019): thesnowballinvestor.substack.com/p/current-inve…

Come down to the Fullerton Ballroom now. We will be going until 1.30pm today

The Snowball Investor is back from hiatus! I thought the recent $SOL H1FY26 results deserved its own deep dive at a very interesting time for our Aussie compounding machine open.substack.com/pub/thesnowbal…

A real lesser known little gem 💎 I’ll always be grateful that Charlie Munger decided to do a few podcasts shortly before his passing. The acquired one from this same period is also excellent 😊. open.spotify.com/episode/5t8kYb…

@bowtiedstocks I think it’s probably to do with the lack of free float and controlling shareholder? A lot of institutions seem to have rules which screen this kind of founder led company out. I do know that a very small LIC called Glennon (ticker GC1) has an investment in KPG.

$KPG.AX Kelly Partners - I can't find any institutional ownership on the register Are there any professional investors holding this one ? If not, why is that ?

@TCII_Blog I get your take on it though it doesn't seem like things ended that well with Combs for whatever reason. Buffett's comments at the time of the press release on the personnel changes were quite light on detail.

@TCII_Blog If it's just Greg running 94% of the equities portfolio with Ted still handling the remainder it probably makes sense to consolidate it down to a smaller number of large well understood positions considering he's more of an operator that an investor.

Very odd if speculative reporting is true that *all* of Todd Combs' picks at Berkshire Hathaway $BRK.B are being discarded by Greg Abel. Sure, get rid of SiriusXM $SIRI, but no need to discard Amazon $AMZN when you have $370+ billion in cash. Seems a bit personal (not rational).

@_FlipMan In Australia I think that fast food freeholds on long term leases (often 30 years plus) to McDonalds would fit into this category. They often change hands on yields significantly below the risk free rate.

@peterphan88 I just finished reading "Alchemy" after discovering him on the Knowledge Project podcast and loved it! What an original outside the box thinker. He always writes in a very entertaining style

A bit of Rory Sutherland magic to move the brain: youtube.com/watch?v=6SXCJh…

What an honour to hit 150 subscribers on Substack 🙌 I continue to be appreciative of anyone who talks investing with me. My wife and I are on a QLD holiday at the moment and I’ll then be having wisdom teeth surgery so the next blog post will be in the final week of April 😊.

This weeks top ups amongst the correction: $CKF, $CAR, $SGH, $DXC The portfolio is now at 10 positions which is about the most I feel I can properly keep track of while maintaining a day job!

My latest write up on a recent industrial property sale and the justification for reducing exposure to Victorian direct property: open.substack.com/pub/thesnowbal…

@Michael28878127 Thank you mate the kind words are much appreciated 😊

@TimMurrell74077 A great story.

Something a little bit different on the blog this week! I decided to discuss my private investment in a small self storage facility. open.substack.com/pub/thesnowbal…

A post reporting season review of all my current investments: open.substack.com/pub/thesnowbal…

I thought this was a pretty wild stat in the AFR earlier in the week! It seems like the whole “flight to quality” that the office REITS have been talking up for years is way more pronounced than I thought.