I hope this note finds you doing well.
Goldmoney.com is our single largest equity holding. For some time we have answered many questions on our intention for this position. The latest quarter, and coming years will depict, in spades, our intent.
Investing, by definition, is the deferral of capital today for the expected return of capital in the future.
I am not sure the world understands this concept in the Instant Space analytics of the mobile phone. Impatience is not a strong enough word.
Needless to say, the performance of Goldmoney Inc. has been fantastic. Revenue growth +63%, and +80% growth profit for year ended March 31, 2020. Note: Gold has performed far better since March 31.
Attached is a link to the annual letter. https://www.goldmoney.com/images/media/Files/Docs/IR/shareholder-letter-fy2020.pdf
Please take a moment to understand this letter. Goldmoney has built a durable company in the most challenging of times. We cherish durability.
Thank you for your interest in Forest Capital - BRC Wealth Management.
I am grateful to work for Good People.