Dan you devote a lot of time to analysis of a single company....

Dan you devote a lot of time to analysis of a single company. Presumably you do that for all/some others in your portfolio. Thanks for contributing, its great to read your detailed analysis.

The metric that is in my view, the most significant for the future of this company, is the premium subscription service. The peer to peer investment insights. The peer to peer platform is SWF's raison d'être.

In the future, other online brokers can offer price competitive trades. Price may not be SWF's competitive advantage in due course. Peer to peer investment insights however is unique, but it is not being bought by SWF platform users. Annuity style income is a little bit of a holy grail. The peer to peer subscription should be providing this but it is not.

Brendon Mutton is in charge of selling this feature. I would very much like to see this income stream make a material contribution to this business. Otherwise, SWF will continue to be the new kid on the block that is slowly doing everything that every other broker already does... Trades, International shares, margin lending and dealer platform.

I look forward to reading your insights Dan on this revenue stream... when it (hopefully) forms a meaningful part of the business.