I started 6 months too soon, to my short term detriment. Net of div payout, average cost now below $17 and I am fully loaded.
Markets are failing across the world. PTM much better positioned in their funds to deal with it, but MFG has more bazookas in its arsenal with greater leverage to their investment style and of course Barrenjoey picking up steam.
I believe the buy-back will begin after most retail investors have given up hope and price is at its lowest point. That is when the best genuine investors get greatest bang for their buck. Once the buy back starts, I am expecting $18 -$20 share price will be breached very quickly.
It is only a matter of time, as all grey haired successful investors have learned, in my case, the hard way.
GLTASH
MFG Price at posting:
$15.01 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)