Chella, I suggest using agregators that give an insight into future earnings. These are updated as brokers update their research.
From what I am seeing, FY23 EPS earnings expectations (which should reflect your concerns) is around $1.95.
At current share prices this would still be a future PE of under 10 compared to MFG historical PE of 20. So significant de-rating by the market (which by definition actually increases margin of safety, but does not ELIMINATE risk, only reduces risk).
Hence why I am in, but hedging my bets by taking positions across multiple funds managers now the whole sector is in the dog box.
As Warren Buffett says, one pays a high price for blue skies. Well there is not alot of blue sky share price premium in fund managers at the moment
MFG Price at posting:
$18.32 Sentiment: None Disclosure: Held
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