Is MGC a good opportunity?

Abstract from "Why Auscap Asset Management is 50 per cent cash" AFR

What have the opportunities been like recently?
Matt: We typically might find five to 15 compelling opportunities a year. The opportunities come about when a company we like trades at a price we find attractive. This might happen because the stock price reacts to shifts in short-term consumer sentiment, or a government announcement affects perception around a sector, or the currency moves and investors overreact. These type of events might mean that you get an opportunity to buy a handful of great companies at prices that we find to be good value. It doesn't happen very often so the vast majority of the time we try to be patient and sit on the sidelines.


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