Agree on linearity, the table for discussion and putting into a model what posters have mentioned here in words. Humans don’t replicate spreadsheets, spreadsheets are a guide only. The spreadsheet table identifies what is possible at the lowest entry price per month from the beginning of the year.
Other approach could be what is available in bank and look at price based approach to average down. That is only buy when price is 50c or $1 lower than prior purchases (which is what it looks like your approach is based on an averaging down method). This is a different approach and shows others they can achieve a lower entry cost.
This is distinct from determining whether the Magellan business is performing well or not. That is why I like to look at the detail of the business to determine if it has turned around or not, rather than averaging in. Is Retail FUM holding up, are holdings going well?
I too believe that active managers can perform better than index over time. Question is whether they should be doing it now or not. Like Buffett says, you don’t find out who has been swimming naked until the tide goes out. The tide is out now, which Fund Management business models are performing well now?
Best of Luck Lost
MFG Price at posting:
$12.84 Sentiment: None Disclosure: Not Held
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