The Compound Effect: RIP Rob Hirst

Look, I’ll be upfront with you – I really just wanted to write something about Rob Hirst and what an absolute legend he was. But I run a capital management business, not a music blog, so I’m using the flimsy excuse of a financial angle to do exactly that.

The news hit me yesterday. Rob Hirst, the drumming powerhouse behind Midnight Oil, had died after his battle with pancreatic cancer. He was 70. And suddenly I was 16 again, standing in the crowd at Kooyong in 1985, feeling the ground shake as the Oils pumped out their classics.

I can still feel the radiating heat off the stands as a typical Melbourne 35 degree day closed and the sun set over Kooyong, punctuated by the seagrass matting flying through the air (those who were there will remember it).

The Soundtrack of a Generation

If you grew up in Australia in the 80s and 90s and didn’t see Midnight Oil live, you missed something extraordinary.

They weren’t just a band – they were a force. Hirst wasn’t tucked away at the back like most drummers; he was right there in the fury of it, driving every song forward with this relentless, precise intensity. While Peter Garrett thrashed around up front, it was Hirst’s drumming that was the engine room. The beating heart.

Those gigs were everything – the sweat, the energy that ran through it all, the feeling that you were part of something that actually mattered. These were my late teenage and early 20s years and Midnight Oil was the soundtrack to all of it.

Commitment Over Decades

Here’s what struck me when I heard about Hirst’s death: he co-founded Midnight Oil in 1972. He was there from day one. And over 50 years, he built something that influenced millions of people, shaped Australian culture, and left a legacy that will endure long after we’re all gone. The key was starting, staying committed, and letting time do its work.

The Power of Time

The key was starting, staying committed, and letting time do its work.

That’s what I try to tell my daughters now – the most powerful thing you can do is start early with whatever you have, stay disciplined, and let time work its magic. In 1985, if you’d invested $1,000 and earned returns similar to those Ark has historically generated (around 9% per annum), it would be worth approximately $30,000 today. Not because of any magic, but because of time and consistency.

Showing Up, Every Time

Rob Hirst knew about putting in the work. He wasn’t just Midnight Oil’s drummer; he was a songwriter, collaborator, and the guy who kept showing up through decades of touring, recording, political activism, and all that comes with being in a band for that long. He and the Oils never chased trends. They didn’t compromise. They built something authentic and let the results speak for themselves.

He released his last EP in November 2025, even while fighting the cancer that would eventually take him.

Classic Hirst – right to the end, still creating.

The Long View

At Ark, we talk about taking the long view, about discipline, about building something sustainable rather than chasing short-term wins. Hirst had all of that. He showed up, did the work, stayed true to what mattered, and built something that lasted.

Whether you’re building an investment portfolio or punching the drums in one of Australia’s greatest bands, the principle is the same: start early, stay committed, and let time do its thing.

RIP

Thanks for everything, Rob. For the music, the memories, that Kooyong concert that’s still ringing in my ears forty years later, and the reminder that the most powerful thing you can do is simply start and keep going. RIP.

Article written by Peri Macdonald, Chief Executive Officer & Managing Director

The commentary in this article in no way constitutes a solicitation of business or product advice. It is expressed solely as the opinion of the author, and as general information for the reader. It is not information to be relied upon in making investment decisions.

Disclaimer: This example is provided for illustrative purposes only and does not constitute financial product advice or a representation of actual investment outcomes. Past performance is not indicative of future results

Want more articles like this? Follow Peri Macdonald on LinkedIn.

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