There are different opinions about Bitcoin. Some has a cult belief in it and the others think it is worth nothing. Some reputable IB on CNBC said “it is worth nothing but it is addictive”. I tend to agree with it and that explains its price hikes. Would it be right for Hamish to invest in this asset class? Absolutely not, it does not fit into investment philosophy of Magellan. Kudos to Hamish for sticking to it during the period of hype and temptations. If 2 or 3 shareholders do not agree with this, just move on to another asset manager.
MFG Price at posting:
$34.93 Sentiment: Hold Disclosure: Held
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