Ann: Funds Under Management - August 2022, page-56

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thebarry111

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16/09/22

16:49

Post #: 63744536
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Originally posted by Jack1960: ↑

Sorry lost. Investors usually don't operate on a linear model that can be replicated on a spreadsheet.

I have averaged down very significantly over the last 5-6 months. That usually means at the times MFG is very heavily sold down, I may buy 5- 8 times during that month as the price drifts lower.

INVARIABLY, the price a month or so later recovers by 5%- 15%. In the recovery phase, holdings are trimmed, essentially crystallising a CGT loss from the earliest and highest price purchases, leaving a constantly reducing average holding cost. This essentially requires no additional capital investment, but since I want more of this stock, I have been buying more at low prices and selling less. My time horizon is 3-5 years, not 3-5 months and I have every confidence the business model will stand up in the 2023 market crisis whilst passive fund holders will be heavily hurt.

I have adopted this self disciplined approach (based on Ben Graham model) for decades. I now need only see $16.80 to break even.

What was I doing last week when the SP fell below $12? You can guess.

If we get to $13.50 in the next few weeks, you can also guess my trading bent.

This is pretty basic stuff. It is not fool proof, but no amount of computer modelling will ever replicate the skills many investors employ. This is precisely the reason I hold the view that in a bear market, good active investors/managers will crush index fund performance. They may not do it for an extended period of years, but I won't need them to, as I will have mostly sold out as they (roughly) top out.

GLTASH

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No offence but this is just an awful, awful way to trade.

it’s a complete waste of time.

How about you actually research the company beforehand and buy in at an acceptable level.

The above approach is just making a mistake, followed by a series of further mistakes.

One day you will get one which heads south for the winter and stays there.

Every chance MFG will be one of those.

FUM leaving the building at a rapid rate, Fees being halved and markets heavily against them. Where is the upside again?!?

MFG Price at posting: $12.52 Sentiment: Sell Disclosure: Not Held
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(20min delay)
Last $10.74		Change -0.090(0.83%)		Mkt cap ! $1.852B

Open	High	Low	Value	Volume
$10.76	$10.84	$10.68	$1.380M	128.2K

Buyers (Bids)

No.	Vol.	Price($)
14	266	$10.74

Sellers (Offers)

Price($)	Vol.	No.
$10.75	1065	18

View Market Depth

No.	Vol.	Price($)
5	120	10.740
11	1080	10.730
6	1423	10.720
10	4031	10.710
10	11794	10.700

Price($)	Vol.	No.
10.750	725	12
10.760	1917	17
10.770	1935	10
10.780	2680	10
10.790	2264	10

Last trade - 14.35pm 07/08/2025 (20 minute delay)

MFG (ASX) Chart

Ann: Funds Under Management - August 2022, page-56

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Ann: Funds Under Management - August 2022, page-56

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