Fair bit to digest in this, will take a couple of reads. The point that resonates in the letter is Paul reiterating taking a long term view. Certainly no appetite to buy anymore shares in the short term. At least he’s being frank & honest on our prospects, sometimes the truth hurts.
Thanks to @Steini if you’ve had a hand in promoting this letter being issued.
- WE.
Ann: Letter to Shareholders, page-14
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