Chart, page-6448

I could stress about the Lauder shares exiting escrow, or I could just take Sell’s advice and ‘let it play out’. Yeah, that one sounds much better. Good luck all.

Hi Dungiven. Hope you are keeping well. I am bit bewildered with the discussion over Ron's shares. He's not after money anymore. His art collection is worth more than his stake in FLC. He is after a legacy. He is the President of Jewish Congress, given to a bigger cause than his own wealth (as so he perceives). He is after doing good and wants to be remembered as a statesman. He is old rich, not like the kind of new rich that needs to show off his wealth, or has a point to prove, marries 4 times so as to show off his prowess with each of their trophy wives half his age. He will not flip because of a few hundred million because money doesn't faze him anymore. In fact, FLC brings him into the higher echelons of the inner statesmanship sanctum of nations.

What was telling during the last Q&A at the AGM. Henry quipped with a joke on Ron, in a reply to a question what Ron thinks of FLC now? Henry answered, he still thinks he owns the company. That's telling to me.