There are some anti Hamish posters on this thread that I have on ‘ignore’ because their posts are so childish and/or repetitive I can’t be bothered with them. At least you are able to articulate your anti Hamish views in a way that is worthy of a response.....so well done on that.
A few comments:
“You absolutely CAN NOT look past a 20% underperformance and say better luck next time”
You’re looking at this from the perspective of someone that has held the stock for a couple of years and suffered the opportunity cost.I’m looking at MFG at its current $35 stock (and most of my holding has been acquired in recent times at sub $40) where I certainly CAN look past the 20% underperformance .......because that’s how come I got my MFG shares so cheap ! (ie the market has punished the 20% underperformance ....its priced in)
I agree with you that repeated underperformance would eventually kill MFG but at this point in time I’m banking on more regular markets (and perhaps even a sizeable correction) working in Magellan’s favour and ultimately returning MFG to $50 plus with future outperformance. I might be completely wrong and Hamish F’s things up again - but hey - that’s investing.
“You own one Bitcoin today, in hundred years you still own 1/21millionth of the Bitcoin network”
Bitcoin, like any currency, is only as good as people’s willingness to accept it has value. If I was buying a car by private sale this weekend how would people react if I said ‘great I love it - I’ll pay you in bitcoin’ It’s still not widely accepted and who really knows if it will ever be ?
How can you be so sure Bitcoin will even be around in 100 yrs ? - tech is moving so freaking fast - any number of crypto alternatives could come and go - maybe there will be a Meta product that will supercede what we know as crypto now and when you try and pay for something with Bitcoin in 2040 someone will say .....”you’re joking aren’t you mate - I havent accepted a Bitcoin payment since about 2028......that whole thing crashed.....but we accept MetaFungible Teleportation Tokens”
And I don’t buy the ‘there’s only so many that can be mined so they have scarcity value’ argument.....if they are superceded and not accepted it just doesn’t matter if there’s 50 of them or 50 trillion.
So personally I wouldn’t want any of my wealth tied up in Bitcoin - I just don’t trust it long term and I think that represents the view of the average MFG investor - and Hamish knows it.
In closing I’ll say I’m certainly not a ‘rusted on’ Hamish follower. I will dump my Magellan exposures if I think they’re getting me nowhere - but right now at current prices I think the market selldown has been overdone and the MFG and MGF shares represent good valuefor short to medium term capital gains and dividends.
MFG Price at posting:
$34.93 Sentiment: Buy Disclosure: Held
(20min delay)