is this the next bnb, page-18

Sabre, you are only focusing on one part of the business.
Look at the contribution of other parts and also the fact that MQG continues to grow profits while not earning performance fees on these satellites for a couple of years now.

In addition, the reason why MQG did not have the significant writedowns of $billions like other investment banks is becasue they do not get involved in proprietry trading like the other investment banks. Probably becasue of the fact that they have the best Risk Management division in the world.

I find it interesting how Aussies cannot believe that the best ivestment banks (with arguably the smartest people) in the world is in SYdney Australia.

Now the shorters. Well they have been there trying to knock off MQG for almost 12 months. Jim Chanos has been doing all he can to bring fear (often not providing the full picture on the MQG business in the meantime).

While the price has fallen, more to do about global banks falling than the result of shorters. There was an article written y head of institional trading at SOuthern Cross Equities (his name escape me but is high profile) who said that MQG is so well capitalised and raised a few $billion last year at high prices that all they need to do is simply look at a buback and all the short covering will come as teh shorters begin to panic.

As someone here mentioned, the institional support globally these guys have puts them head and shoulders above the rest.

The best companies take these conditions as an opportunity to grow the business further. The fact they are getting involved in bond insurance in the US at such a time shows that they stand to make $$billions in this with most of risk already gone from the market.

This is what you are buying. A group that picks the opportunities in the global market and takes advatnage of it at the best possible time for the benefit of shareholders