on balance i thought it was a reasonable video, but in response to your comments-
firstly, fk the details of his personal situation. we dont need those details. i personally think this guy should be on leave and come back in the new year fresh and with a clearer head. likely hes not doing this because it would be further uncertainty to the state of management in the company. so on balance, hes not IMO making the most sensible moves by not standing aside for the time being.
as far as bretts departure and st james, there could be a variety of things at play there. doesnt seem like brett was a key person so i can write that off. however, i think SJP withdrawl may come down to two possibilities which are obviously imo and pure speculation- someone within the fund got someone close to manage the money, perhaps more cheaply or as part of a "boys club" type of arrangement, and also perhaps SJP has adopted the view that magellan is probably not the best investment house for the shorter to medium term given their recent underperformance in what are highly dynamic markets right now. he was saying charlie munger was saying markets have recently been unprecedented so maybe they want a manager with a different view.
otherwise i pretty much agree with everything else you say but with much less hubris on my assertion of the points made, with the exception of the nuclear black swan event which as he even said was too difficult to put a probability on.
what worries me the most is that now the market will be judging 2022 on his view that its going to be bad. if hes wrong, then i think magellan as a long term investment manager might not be as appealing as it once was. some of the stuff he talks about in my view are not very.... whats the right word... perhaps genuine or humble enough. like it seems hes sweeping under the rug of his ego all the bad stuff thats happened recently. to the average punting investor perhaps it sells, but for anyone hes addressing thats intelligent and connected to the markets, a lot of his arguments come accross as weak and with a lot of uncertainty. its for that reason that i sold out the remaining of my holding today. only made a couple of hundred bucks but this guy needs to work on a pr strategy that is one of personal recovery first, and then professional reinstatement of his image. you simply cant work through them both without one affecting the other.
from a personal life point of view, i wish everyone the very best including hamish. we need more compassion and understanding these days in that regard. but not in the management of money and fiduciary duty. results are what matter in that regard.
lastly, the interviewer was a terrible pick to do the interview. a bigger sycophant and gullible person couldnt have been picked. he will clearly swallow with grace whatever hamish gives him so i think a more independent person was needed. someone more neutral and NOT a company rep.
to everyone on this forum, happy holidays and enjoy some time off starting mid day tomorrow. im sure a lot of us need it.
gltah and dyor
MFG Price at posting:
$20.44 Sentiment: Hold Disclosure: Not Held
(20min delay)