And the first of the big departures outside Hamish was just revealed today. Vihari Ross, their Head of Research and the epic failure of an investor - who TOOK OUT P&G from the Magellan portfolios to ADD Facebook and other hammered growth stocks - just left the company to work for Antipodes. Vihari was effectively 3rd in line to the throne to Hamish when he was there.
Expect research houses to punish Magellan's underlying fund ratings for team stability issues. Vihari actually took a DEMOTION from Head of Research/PM to just PM at Antipodes. I can only imagine how bad things are at Magellan if someone in that type of powerful position had to effectively take a cut and step over to a manager utilizes "long/short" philosophy (a completely different beast to Magellan).
People think I'm some stupid downramper who talks out of his ass. I KNOW this company and I have been calling its demise since $40. The industry rumour mill has it their key distribution managers are basically coasting through their jobs and preparing to jump at the next available opportunity.
After all, you can't sell AIDS at any price.
MFG Price at posting:
$8.70 Sentiment: Sell Disclosure: Not Held
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