$200 Party, page-146

With the benefit of hindsight everyone is an expert. If you believe in a company and the track record has proved itself why not take the Warren Buffett approach - hold it FOREVER. MQG is one of those stocks.

It is essentially one big Private Equity vehicle - it cannot NOT be successful over the longer term. The staff are remunerated to make deals and hence profits - the more deals and profit a staff member can make the bigger his/her bonus - the model aligns staff and shareholders ABSOLUTELY - no ifs or buts!!.

You have 16,000 staff - essentially entrepreneurs looking for the next deal. The biggest asset MQG has is the ability to "pivot" at certain points in history:
* it pivotted into infrastructure in the late 1990s when no one heard of the term - it set up funds to hold Sydney motorways and the Airport
* it pivotted into annuity businesses like Funds management and banking after the GFC as deal making dried up
* it pivotted into offshore markets since 2010 when the Aussie market was looking mature - they bought Delaware in the US as an example
* it is now pivotting into the Green/Environmental area - with the world demanding more assets in this space.

You get the story - they will continue to "pivot" and enter new markets where they see a fit.

I know how they work - I worked there for 16 years and have been a shareholder since Feb 2000.