You know like enough already!
The financial services and active funds management industry is consolidated enough already - favouring the big boys, the massive super funds and their (non transparent) trading desks. All these "relationships" they all have together and the vast shorting reserves they can call on, (from the big super funds) to short a stock. How do we even know if they aren't clients (as well) of the very Super funds they borrow stock from? Does that have to be disclosed monthly?
I mean heck they can borrow stock from the super funds! But it is worse.. these giant super funds (themselves) have a conflict of interest against a non super fund active manager (like MFG)..
At the end of the day, They are all competing for FUM!
It's not like with tax benefits, and huge Union and Industry based compulsory scale, they don't have an uncompetitive advantage for retail FUM already!
How the heck can a small DIY Super fund manager like me compete with all that directly owning MFG stock?
How can even Magellan?
Anyway..stupid me for thinking MFG was hitting some sort of "value" a yr or so back...
Live a learn ....what pool of infested water..
In summary it sucks
Cheers (and IMHO)
Ann: Funds Under Management and Performance Fee Update - Dec 2022, page-56
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Last
$9.76 |
Change
-0.050(0.51%) |
Mkt cap ! $1.764B | |||
| Open | High | Low | Value | Volume |
| $9.63 | $9.77 | $9.63 | $2.785M | 286.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 928 | $9.71 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $9.77 | 2144 | 2 |
View Market Depth
| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| MFG (ASX) Chart |