The Smartest Investment I Ever Made Was in People

A note to young leaders.

Lessons from my father.

In 1997, shortly before John Caldon stepped down as Deputy MD of Macquarie, he asked if I wanted to co-invest with him and a group of his friends in a small underground coal mine near Newcastle.

I was hesitant. I was only 26-years old at the time, of limited means, and neither I nor my family had any experience in mining.

I sought my father’s counsel.

My father’s response was unequivocal: “Yes, of course you should do it. The coal mine deal may or may not make money, but the thinking you’ll be exposed to in and the relationships you’ll form will be worth ten times whatever you make from the deal.”

And that’s exactly how it played out.

The coal mine investment did well enough – but, more importantly, my involvement led to me and my brother Shane ultimately forming a real estate investment fund with John Caldon and Michael Easson – later to become EG Funds Management.

That’s often how life works.

In your twenties, focus less on WHAT you do – focus more on WHO you do it with.