Ann: Funds Under Management - December 2021, page-19

“This is an ongoing problem MFG will have for a little while”

“That's how the masses invest, they arrive after outperformance and leave after underperformance”

Good assessment - refreshing among the predictably hysterical posts from the usual suspects.

This FUM update is not surprising at all - it’s around expectations.....but you’re right .....all of this stuff will still only just be coming to the attention now to the dopier end of the investment community.

So FUM and the MFG sp may well drop further from here over the next couple of quarters such is the lagging and trailing effect of underperformance.

In the meantime however I’m thinking the Magellan basket of stocks are travelling ok right now (relatively). The more aggressive fund managers are suffering losses (4 out of 10 NASDAQ stocks are now down 50%).....but of course this underperformance won’t show up for a long time yet ......so incredibly, as you say, there’ll still be investors “arriving after outperformance” when it comes to these funds.

I’m still firmly a hold on MFG. With all the bad news and a pessimistic forward view all baked in to a $20 sp why would you sell ?