Ann: Hamish Douglass - Medical Leave of Absence, page-160

I think this has to be by far the most financially suicidal group of investors I've come across.

I cannot believe:

• There are adult people here who think yields of 10%+ are sustainable. You may as well take a punt on the Prince of Nigeria
• That people here are deliberating what Nikki Thomas thinks of various global stocks versus Hamish Douglass like they know the global equity universe. Like you know what they're thinking? In fact I reckon you probably know better because even Hamish couldn't beat the index. And if you think you know better, why don't you go buy your own global equity companies? It's not hard
• People are making the most obscure bet that MFG at a company level will return to a former glory because they think their global equity strategy will miraculously shake off all its underperformance (despite full-well knowing what @cutty said)
• That despite all the writing in the wall about how underperformance permanently afflicts undiversified funds businesses like Platinum, Perpetual and Pendal, they believe "this time is different" with Magellan

Lord have mercy on these poor souls.