I am not saying it is going to "plunge" I am saying that the share price should drift downward, but there is still expected to be a positive return after dividend payments, so that is a genuine reason for not selling.
Capital gains tax is the biggest issue to selling, it just doesn't make sense to sell at $23 only to buy back in at $15 etc as that benefit would be blown away in tax anyway - and I might be wrong to begin with.
If FMG does drift downward a covered call strategy maybe ideal to offset that drift which produces an even better return.
So they are the reasons for holding.
As for AF, firstly when anyone has an oversize "eggs in one basket" strategy (in general), I don't look up to them, but rather take a dim approach as that is just poor risk management.
However my understanding is AF isn't leaving much to his kids, FMG is his life interest and perhaps his personal reason for continuing to invest is because he's got nothing better to do with his cash and takes a blokey "skin the in the game" attitude - I don't know and I don't really care either.
FMG is a simple business and fair easily to get valuation bounds for and I don't think there is anything that will change overnight that AF knows that the market doesn't - so who cares what AF does? Good for him, none of my business.
(20min delay)