Not as poor as the Magellan trade it seems @Jack1960
1) I have reviewed the posts and been on the MFG thread overall for several years, maybe you should try actually reading them carefully yourself. The holders and non-holders here are smart enough to understand Magellan is in a net-cash position. No-one who is engaged in markets has questioned its viability in the context of being an ongoing financial concern. Those who are are probably novice retail investors who have never seen this happen to them, but that has been very rare.
To even think that is beyond preposterous given many funds management companies are run by often by 1-2 decision makers and they survive despite underperformance, so why wouldn't Magellan? These are capital light businesses after all.
What you've done is used the "Trump play" - you've created the illusion that other people have said something in order to - pardon the pun - Jack yourself up, when that's not the case at all.
What IS the case is that there is a genuine concern is that this business is unviable as a value-turnaround candidate. If a funds management business keeps losing FUM and keeps underperforming the index, on what basis will its stock price do anything else but keep going down? Not into bankruptcy obviously, but into perpetual underperformance.
2) So on what basis is 2023 going to be a "nightmare" year for index investors? In the context of ETF investing, aside from inverse/leveraged ETFs, a nightmare can generally only occur based on the performance of an underlying asset. So unless you have a view that every asset class is going to crash, and Magellan will somehow outperform, then I'm perplexed.
By the way, let's not forget, what does Magellan offer? ETFs. Right? Between MGOC MICH and AASF, more than $15bn is sitting in Magellan's ETFs.
2023 will be a nightmare year indeed. For Magellan.
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