Update No. 125 – 11/08/13

When I returned from the UK and China in early January, my Wife (Sue) had only one important question.

When is that awful beard coming off? Now, I’ve worn a beard virtually constantly since I was about 17, but it’s always been a military trim.

But in anticipation of a cold UK winter, I had let it grow since about October. For the record, the weather was unseasonably warm and the beard was not really needed.

I jokingly told her that it would come off when the EGP share price hit $1.50. It seemed far enough off as to be implausible in 2013 (requiring a 25% rise); especially given I knew there would be a decent dividend to slow things down further.

I had never really intended to keep it going this long, but here only 7 months later, I find our share price within striking distance of that point. We need only a 4.64% rise to hit the mark, had I not paid the inaugural dividend recently, the rise needed would only be 2.08%.

In any case, I’m not a superstitious man, but I’ve decided the beard stays until the job is done. Sue is praying for a good reporting season… – Tony Hansen 11/08/13

EGP Fund No. 1 Pty Ltd. Up by 7.60%, leading the benchmark by 2.26% since July 1^st. Since inception, EGP Fund No. 1 Pty Ltd is Up by 46.95%, leading the benchmark by 31.17% all-time (April 1^st 2011).

^{*1 after 31May 2013 dividend of 2.333 cents per share plus 1 cent per share Franking Credit}

^{*2 calculated based on dividends reinvested}