I know how to read financial reports... got a degree and...

I know how to read financial reports... got a degree and everything. Have you seen me try and correct anything about your Atlassian claims? I do note that it is a growth company however.. currently AGL is anything but that.

To paraphrase another persons commentary on Atlassian and where they are at:
"Currently 12 major investment companies have Atlassian as a buy, 4 a hold and 0 a sell (excludes the author). Expensing stock options is a nonsense as the company will never incur a cash expense related to options and the real effect is dilution of EPS at most a few percent. Sophisticated market analyst want Atlassian, Google, and other listed tech companies to provide them with a non IFRS EBITDA excluding certain items like stock options which are a non cash expenditure. Atlassian is fully transparent in providing this reconciliation to IFRS.

As an investor in high growth tech companies looking for maximum capital appreciation, I want Atlassian to reinvest in sales and R&D to maximize revenue growth and dominate in a highly competitive market. No, it is not easy for any company to grow revenue 34% per year.

It took 14 years for Amazon to make cumulatively as much profit as its first $1 billion plus quarter, when it reported $1.86 billion in net income for fourth quarter 2017. Jeff Bezos focussed on long term revenue growth and dominating the market which resulted in Amazon becoming one of the worlds most valuable companies and Jeff Bezos one of the richest men in the world. A $500 investment in Amazon in 1997 would be worth $568,620. By comparison Commonwealth Bank returned about 8% per annum over the last decade.

I suggest Goldman Sachs, Morgan Stanley, Citigroup who have a buy recommendation have a better handle on how to value Atlassian than an Aussie who is trying to compare a high growth tech company to shares of low growth no growth Aussie companies like the Commonwealth Bank that pay out franked dividends." (sub out CBA for AGL and you paint the same picture)

But we aren't here to talk about Atlassian... other than how it is relevant in how MCB's & Farquar's idea made them both *VERY* wealthy...

IMO - what he has done with that money has been very smart. What he has suggested AGL do, I agree with. He isn't looking to manage AGL... but as a 11% shareholder - it is well within his rights to exert pressure on the board.