Rich’s generous walk down memory lane

Outsider thought he might be being “April fooled” when, on 1 April, he noted the colourful Graham Rich celebrating Morningstar’s 20th birthday in Australia.

And then he realised that the ever-wily Rich was noting the day in 1999 on which Morningstar Australia became the new name for his business, FPG Research, which he founded in 1983.

There has been a lot of water under the bridge since 1 April, 1999, when Rich notes that he sold 49 per cent of FPG to Morningstar and if Outsider remembers rightly a fair bit of time spent in the courts before Rich and Morningstar settled their legal battle after he was ousted in 2001.

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It took until September, 2007 and the exchange of some money, for Rich and Morningstar to bury the legal hatchet, and Outsider admires the manner in which Sydney’s most ardent kiwi found the time last week to acknowledge the rise and rise of the business even after he left.

But, then again, following the legal settlement and the success of Rich’s Portfolio Construction Forum and his Continuing Professional Development push he can probably afford to be generous.

History is written by the victors and the vindicated. 

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