In the space of a couple of days Magellan's Global Equity portfolio has fallen an additional 2.7% (model portfolio with top ten holdings adjusted only until Magellan disclose full holdings). Major contributor to the increasing losses is Netflix falling almost 20% more with earnings announcement and Amazon has fallen an extra 10% in two days too. Here is the table:
On a positive note, downside fall in FUM based on next years earnings and holdings reverting to the mean have fallen to under 20% (based on this years earnings has decreased from 29% fall to 26%). In a scenario of increasing interest rates through this year and the Magellan Global Equity holdings reverting back to historical PE Ratio averages, means that Magellan FUM will only fall by 19.31%. This was 23% last week, here is the revised table:
Best of Luck Lost
MFG Price at posting:
$19.23 Sentiment: None Disclosure: Not Held
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