Ann: BEN 2017 interim financial results announcement details, page-28

Just a conversation nothing personal. BEN has got a good moat IMHO. On your property point, see below:

I ask the question about Sydney, Melbourne and Auckland property. Where else in the world do people want to go? New York is hard for everyone to get into let alone afford, Vancouver does not really have a financial hub, London may lose its lustre due to Brexit, Stockholm (not sure what goes on there/ strange laws see the Assange example) and Hong Kong (well that depends on what happens in the P.R.C.?)

So other than Sydney, Melbourne and Auckland, where do the professionally educated labor want to go in the future or rather where else? Where else do u get decent climate, living standards, education and an economy that all things considered is not too bad? The politics is dreadful but they should just limit all the politicians and reduce the public administration to allow companies like BEN to flourish.