Volume 47 April 2019

8 ROE REPORTER | DKAM Final Thoughts As mentioned earlier, with the fund re-opening, we have been meeting with our current and prospective investors. There have been a few common questions and comments, with one being succession. Jason is currently 55 years old and Jesse is 20 years his junior. In our minds, succession isn't the correct question and not how we view our relationship. We view our relationship like Buffett and Munger, where one may be older than the other, but they are partners, both with mindset of working (picking stocks) well into their eighties, or nineties in Munger's case. We both have hobbies, but even in "retirement" would still be analyzing businesses and picking winners, so why not belong to a team and do it together. Our partnership has been working for the past 8 years and we don't expect any changes in this dynamic for a long, long time. We would like to sincerely thank the entire Donville Kent family, including all of our investors and employees. We’re excited to be putting money to work in this environment. Over the next couple months, we will be travelling to multiple cities across North America in order to visit management teams and inspect corporate locations. We’re always on the lookout for the next super compounder. J.P. Donville & Jesse Gamble info@donvillekent.com