just to add to the above as well , Magellan is now essentially 3 companies rolled into 1. With the introduction of futurepay , they have also entered the lucrative annuities space in which Challenger (4.5 billion market cap) has the market share and there is plenty of room there for competition. They also have Magellan Capital which as mentioned by Moonshine had a very successful first year of value added acquisitions and this I am sure is just the start so we have alot more strategic acquisitions to look forward to in that space as well think Softbank style investing. We are also an investment bank and a clearing house since we have a huge stake in Barren Joey and Finclear and the synergies of those investments when looking at acquiring other businesses will im sure prove to be highly beneficial to us down the road. If they hit a home run in all 3 spaces , we will be looking back in 3-5 years at these prices as an absolute bargain when its sitting in the triple digits, imho dyor
MFG Price at posting:
$35.36 Sentiment: Buy Disclosure: Held
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