In this letter, I thought I take a break from tradition and not talk about the performance of the fund. Instead, I like to share the experiences I had over the past 18 months, the conclusions I’ve drawn, and where I am personally taking my life in future.

The two most fundamental things which exist for us are time and money. We study hard to get a degree, work hard to get a good job to help us attain the financial capability that we desire. In return, we exchange our time to achieve this goal. People with money have the opposite “problem”. With enough money, they can purchase “time” by hiring people to work for them, to do their chores and to settle their problems.

A word on investing. The prudent management of your money, combined with frugal spending habits, in the long run will make you a rich person. ...