Ann: Change in substantial holding, page-3

Yeah, you're right, dunno why though, it's still the same company after this sale with the same outlook and they still have a controlling interest, so nothing's really changed. Could just be providing a buying opportunity for some. Also, maybe they were approached by one of the investment funds to sell, many of the better ones hold MAQ and it's tightly held and hard to buy big quantities on market.

Anyway, they've earned the right to take some profits IMO, last time they took some off the table was Nov 2018 LINK.


Monty's still spruiking it, here's his latest from yesterday:

"A second theme we believe will assist investors to generate at least relatively better returns is a theme we call Structural Winners. This theme also offers investors the ability to be agnostic with respect to the state of the economy.

Structural Winners are businesses benefitting from global megatrends, such as cloud computing or decarbonisation.

Structural Winners are also businesses with long runways for growth, take market share from weaker or legacy incumbents and are therefore in control of their own destiny. A business like Macquarie Telecom (ASX:MAQ) run by David Tudehope is also a company whose shares we own.

A data centre operator, it benefits from the trend toward cloud services, which is levelling the playing field for small businesses to compete globally and digitally. As the company expands its footprint, the market is also slowly understanding it can sell its last 10 per cent of capacity for 10 times the price of its first 90 per cent. And whether the economy grows or not probably matters little.

The Structural Winners thematic has rewarded investors over the last 10 years and may continue to do likewise over the next decade. We currently believe, notwithstanding the ever-present risk of a 10-15 per cent set back, financial year 2022 will prove to be as lucrative as FY21." LINK