I sold most of my holding about a week ago at about this level and watched it pound another 5 or 6% higher.
I, too think it is now extremely overpriced compared to it's peers and will probably pull back.
With that said though, there is a reason they will be consistently priced higher than a lot of other fundies. Their performance in a lot of market situations has been pretty solid in the global equities space. I think their performance during a tough market late 2018 was very impressive considering their growth bias.
There very well could be a significant pullback from this lofty valuation, but I'd happily be a buyer again at the right price.
FY18/19 results thread, page-8
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Last
$11.26 |
Change
0.030(0.27%) |
Mkt cap ! $2.013B | |||
| Open | High | Low | Value | Volume |
| $11.23 | $11.28 | $11.05 | $7.131M | 637.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 234 | $11.22 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $11.28 | 6303 | 3 |
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| Last trade - 16.10pm 18/10/2024 (20 minute delay) ? |
| MFG (ASX) Chart |