Yeah I lightened a little yesterday at 189.8 from sold shares...

Yeah I lightened a little yesterday at 189.8 from sold shares bought a couple of years ago at $80, having collected a few divis along the way.

I still hold and still like mqg, but as the market is getting fully priced I’m shifting some funds into the mortgage offset account because I get 3% which is effectively 4% risk free rate in Pre tax terms (like having risk free 30year treasury bonds yielding 4% with a zero risk of capital loss (unlike bonds which are likely to drop in price as yields rise).

On the other hand I added some mqg a few months ago at low 140s, so I’m still bullish on any sharp pullbacks, it’s just that eps growth is likely to be modest from here over the next 2-3 years, given low rates and an expensive stock market in a mid cycle bull market given the nature of mqg’s business segments (eg annuities, capital markets etc).

if mqg pulls back sharply to below 150 in a market wobble, I’d be happy to add again, this time I would add in my super for a longer term 20-25 year hold, as opposed to my personal investment portfolio where I have a 3-10 year timeframe for my investment theses.