It was 2010. Collingwood had won the AFL grand final, and a week later, I was on a flight to Las Vegas. And yes, I was still wearing my Pies guernsey. I recall walking into a bank branch in Las Vegas to be shocked with an advertisement for a 30-year fixed mortgage with a 3 handle. Who would have thought that 12 years on, that 30-year mortgage rate would hit 2.65%?

Hi guys. I'm sorry I missed last week's note. Its been a big week. I've been seeing a number of clients, and its super interesting to hear different investors' points of view. From commercial property devaluations, hard landing, soft landing, no landing, recession, credit crunch, the list goes on.

How good was this past weekend for sport? The Pies getting up against the Cats, and the Matilda's in a thriller against France - according to my 6 year old son, the penalty shoot out was "epic".

A client emailed me on Saturday night with the results of their home auction from that afternoon. They weren't the only ones pleased with the result - I was super happy for them. It's been a long-time coming, but they got there in the end, and now onto new adventures!

I watched The Karate Kid last week. It's not the first time I've seen it, but it was the first time I watched it with my two boys - it was so nostalgic for me. By the end of the movie I could see the same energy in my eldest son as when I first watched the movie - a belief, the inspiration, the fight, the triumph.

What a difference three months makes? Click here to read my comments from the last quarter. From cracks and fragile markets to new stock bull markets, property prices bottoming out, and inflation back down the 3% (US YoY).