target price $40., page-71

Sorry to hear that - it's a tough business. It does work just fine with companies improving operationally via investments it is what miners do as well. Purchasing equities out of cycle is buying into the investment phase and backing management to improve profitability the other side. The company is more than fine to do that - being invested under one year for such plays is not long enough. Magellan is a different beast all together but will be fine in future as well need to restructure their investment philosophies as easy money type investing is gone. I would stay invested in Magellan as well I prefer market leaders such as MQG in the investment space