From the Gowdie Family Wealth (Australia)-
I’m travelling with my family through the Mediterranean this week. There’s limited access to Wi-Fi, so today’s update will be a little shorter.
Last week, we held our third family office meeting and, in my opinion, the best so far.
The girls are older, more commercially savvy, and have a slightly deeper understanding of — some might say indoctrination into — their father’s thinking. Which can be a good and bad thing.
It’s always healthy to encourage the exploration of alternative views. Challenging your own thinking and conclusions is essential.
Holding the meeting in London, just after the Brexit vote, was very fortunate. The economic and financial uncertainty provided plenty of fertile ground for discussion.
One example is the UK commercial property funds’ temporary freeze on withdrawals, combined with the pending downward unit price revaluations. This took me back a quarter of a century. What’s happening in the UK is a replay of Australia’s unlisted property trust debacle in 1990.
Been there, done that. I never, ever want my capital exposed to an investment structure that offers a liquidity facility against an illiquid asset…