Ann: 2023 FY ASX Results Announcement, page-26

My third largest position. Might be my largest position now.

My brother-in-law said "Mate, you should sell...and take me on a holiday".

I explained to him that I can't bring myself to sell. I've really liked the company from the first day I looked at it, so I started buying. I've never been anchored to my buy-in price, I've just kept on buying it. I researched Altium like no other company that I'm invested in. I liked that they were providing PCB design learning software free of charge to colleges around the U.S. - think about that for just one second.

Some dislike Aram's perceived arrogance. Ie: like the time when Aram did a presentation at a packed house and he snorted and chortled that he "wanted to crush the competition". Apparently, that raised a few eyebrows. The guy is a refugee from Iran. He studied at UTAS - incidentally where my wife studied. He barely knew a word of English, but can figure out solutions to problems. From Protel to Altium, he's proven to be insightful, progressive, ambitious and dogmatic in his motivation.

When Autodesk popped up with that bid at $38.50/share, some people criticised Aram for not allowing shareholders to vote on the proposal. I was clapping my hands with glee and screaming out that we should NOT LOSE A COMPANY LIKE ALITIUM TO THE LOW BALLING YANKS! I was always of the belief that Aram knew better. When we invest, we don't just invest in an idea, a product or marketing. We also invest in the management. Aram has had skin in the game over a long duration. If Aram believed in the company, then so did I.

Listening to the conference call, Aram's tone has changed. The arrogance has dissipated. I noted this in the previous conference call. Aram seems measured and in full control. Even when an analyst attempts to throw him a curve ball, he's sharp as a tack and responds in a quick and decisive, yet measured and confident manner.

I'm stoked that the Altium S.P. has spiked like it has. Truth be known, like I've written in a previous post, I've always seen Altium as steady grower. I'm not in Altium to sell it. The last thing that I want to do is interrupt the compounding process. Aram is at an age bracket where he can comfortably lead this company into the forseable future. He seems to be in his prime. With growing dividends and a bright outlook for the company in the growing area in which it specialises, My brother-in-law can go and **** himself - and pay for his own god damn holiday.