Ann: Funds Under Management and Performance Fee Update - Dec 2022, page-94

First 94 Last

Share
Profile

Follow
uranium69

7,441 Posts.

562

08/01/23

16:53

Post #: 65585647
Share

Originally posted by SaltyInvestor: ↑

My first post warning investors about this company was at about $38. I had sold it for a slight profit but it was only a COVID trade. My "shock" factor about this company arose when I saw the performance reports and noted how far Magellan was behind its benchmark; having some understanding of the industry, I know that big super funds and adviser groups will pull their money if you're not at least close to the index.

Magellan wasn't close behind the index, it was practically last in the marathon and I knew the wolves would be circling eventually. What I didn't expect was how quickly it all happened when Joe Aston waged his personal war on HD and this company entered a static media storm.

I've actually gotten to go to Magellan functions and advisers hailed him as some god, the supposed "Warren Buffett" of Australia, and I became concerned about the level of key man risk involved.

To be honest the signs were all there, but I had the benefit of industry experience to see them clearly and ran for the hills. I kept posting about it but so many buyers were gung ho about the Supreme Leader and Magellan cult that I was ignored.

@uranium69 sadly I don't think you understand how this works. When markets rebound, obviously most funds and investment returns will be up. But what is unlikely for Magellan is whether they will gain NEW MONIES/INFLOWS. If they continue to bleed money because investors are fed up with fees for no performance, then we are looking at continued desolation of this company.

Expand

you some random person on forum...

no one even cares what you post...lol

if your that smart you wouldn't be here ...

you be shorting the stocks at $65....

who you telling.. we not your friends or family...

you just talk when stocks are down and stay quiet when stocks are up..

we seem this in every forum...

people are down 70 percent.. there no point selling just hold and leave in closet...

its all part of the game... cant win all the time...

non of these so call stock guru show any evidence they shorting the stock at $65...

it kinda sad... when you dont hold or short the stock but your here all day and night...

MFG Price at posting: $8.68 Sentiment: Hold Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

IRX

InhaleRX snags $38.5M in funding from VC biotech funder Clendon

MTH

Mithril's drilling in Mexico picks up silver at 997g/t, gold at 28g/t

Week 42 Wrap: HotCopper's top picks; new ASX 200 record; world yawns at war

M4M

Macro, Norden set up transport solutions initiative for West Pilbara

SNX

Sierra Nevada raises $2M for silver exploration at Blackhawk

What's causing the cost-of-living crisis, and how to navigate it

SWP

Swoop lobs $18M offer at microcap telecom Vonex – in which it holds 19.9%

TLG

Talga Group wins key permit for flagship graphite mine in Sweden

NVU

Nanoveu surges 10% after benchmark testing for new AI chip begins