MFG magellan financial group limited

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Blood in the Streets - The Sequel, page-26

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Chella

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19/12/21

14:06

Post #: 58394952
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Originally posted by Moonshine66: ↑

“Regrettably l feel they will end in widespread capital destruction because the rules of investing rarely change, only the participants”

I think so too. The market is due for a major ‘cleansing’ .....you could argue its begun already with the market starting to shake out some of the more ridiculous ‘investing’ that’s been going on.

The most laughable thing I’ve seen was on CNBC at the height of the ‘meme’ stocks frenzy.This punk ‘finfluencer’ was talking earnestly about ‘momentum’ like it was some new financial concept that was going to replace all the traditional measures.

The interviewer says “but this company has flat earnings for 3 years and now it has a P/E of 800 while nothing about its operations has seemingly changed”

His response .... “that’s old school thinking - this stock has momentum and that’s all that matters”

Well momentum can only take you so far - any fool must know that - eventually there has to be something of substance to support a stock price - like real cashflow and real profits.

I think there’s still a lot of this BS ‘momentum’ mentality in the markets ......and this is what sets it up for a big shake out at some point.

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Yes, nothing has been really cleansed out yet. Central Banks are taking only baby step yet. Really only talking about what they will do in 2022.
If inflation keeps at current absurd rates of 7 to 8% in USA for few months, Central banks will be in a hurry.

MFG Price at posting: $29.36 Sentiment: Buy Disclosure: Held
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(20min delay)
Last $8.49		Change 0.000(0.00%)		Mkt cap ! $1.461B

Open	High	Low	Value	Volume
$8.50	$8.67	$8.48	$3.088M	361.0K

Buyers (Bids)

No.	Vol.	Price($)
1	1950	$8.48

Sellers (Offers)

Price($)	Vol.	No.
$8.59	5048	2

View Market Depth

No.	Vol.	Price($)
1	1950	8.480
4	10603	8.300
1	1175	8.200
1	1124	8.150
1	1242	8.050

Price($)	Vol.	No.
8.590	5048	2
8.600	3116	4
8.610	1950	1
8.630	2950	2
8.650	3409	2

Last trade - 16.10pm 27/06/2025 (20 minute delay)

MFG (ASX) Chart

Blood in the Streets - The Sequel, page-26

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Blood in the Streets - The Sequel, page-26

Top Stories

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Sunrise pops on top scandium hits NSW explorer will now use for 'multi-decade' plan

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Featured News

Buyers (Bids)

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Featured News