2022 take the pain , 2027 take the gain !, page-5

I look forward to you tagging me, if your theory ever comes to fruition.

I'll remain Magellan's ultimate down-ramper, because:

• Magellan has no tangible business turnaround strategy
• Magellan has negligible growth optionality (Barrenjoey is too small, and won't become a Macquarie tomorrow)
• Investors are gambling on its funds outperforming so that flows return, which is pretty much a "coin toss" guess
• ETFs are disrupting active management, and more and more investors (like me) are asking: "Why should I pay an active manager 1%, when I can do it alone or pay 10 bps to an ETF?"
• Magellan's reputation remains in tatters, and the mandates won't be coming back

GLHF - you'll very seriously need it.