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07/10/22
06:13
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Originally posted by asxunsullied:
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Wow ok so over few months I have weighted 5% of my portfolio into MFG at average $25 This sure is a tough day...and yes.. sometimes as Peter Lynch once said you keep buying a stock and it just keeps going down.. Do I get out now? How the heck do I know?... yeh I have a crystal ball - I know who may or may not be sniffing around - I'm a rockstar fund manager (with an ear to the ground> Aren't they all? Wait... wouldn't that be inside information...?? It's really hard to be "a fund manager".. I should know - I manage my own "fund"! Yeah I get it.. ETF's are the way to go.. yep of course the financial services industry would be spruiking that now... wouldn't they..? Just give me your money - I'll manage if for you easy as pie into an ETF. Letting the AI computer bots invest for you.. Well good luck with that... Point I am making is everyone is an expert (with the benefit of hindsight) - yep I am losing on my MFG investment but I have skin in the game. I'm not shooting my my mouth off when I don't hold Any old geezer fool can do that... And any one new to the game can just open up a zero fee trading account, It's just like playing sharegames without any actual capital or 2 dollar free bets on Robinhood Up 10%?...(on a capital outlay of 500 bucks)?..Heck yr an investor genius! At least when I manage my own fund, it's my money (that I am down on right now) and I have control over it If I make a bad decision I have to man up and wear it So be it. I'd rather be that guy any day , than the loser who doesn't know where his money is, has no idea how to even try to value a company and just indexes to oblivion... Try beating the street that way... With dark pools, front running, HFT, shorting etc Yr dreaming They will end up stealing more from sedentary ETF investors than me over the long run anyday... By being actively involved, at least I realise they are stealing from me ETF investors have ZERO idea Good luck not knowing where your money is NA/ Just MO
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Sounds like the index has outperformed you? I've averaged 9% per year with 7 ETFs (ASX 200, S&P 500, high-yield bonds, investment grade credit etc.). This month alone I'll be paid out $15k for doing nothing. No stress, no loss of sleep, no thinking about whether I need to buy and sell individual companies. On what basis do you imply that ETF investors have "no idea"? Are you confusing "no idea" with perhaps people wanting a hands-off approach to wealth creation? I don't have time to pick and choose individual companies. My business and clients rely on me too much and I have travel plans every month.
Originally posted by Jack1960:
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Lots of quite unsophisticated (bordering on plain silly) comments on this thread in respect of the ongoing viability of MFG. I have been waiting for today's FUM release. In my view, the $3bn lost to market movement was totally expected, $3bn+ institutional outflows was disappointing and $400 retail outflows encouraging. All in all when markets are falling heavily (as they did in September) every fund manager seems FUM belted. No news in that. Having been patient all through the final weeks of September, I have bought a nice holding today in low $10.60 area. Plenty of dry powder at hand for my ultimate buy in below $10. This business in the process of transition. It is NOT EVEN CLOSE to any financial stress, merely a substantial revision of funds management profits, with Barrenjoey sitting on the side of it with potential maiden profit distributions in 2023 and beyond. 2023 will most likely be a stock pickers market and index fund nightmare. Confidently I can say I do not need it to rain before I carry an umbrella with me. Similarly, I do not need to see the markets turn before positioning myself for to where they are heading. I have way too much gray hair to fall into the naĂŻve thoughts of some here. GLTASH
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Please point out who here in this forum raised concerns about the ongoing viability of MFG? On what basis will 2023 be an index fund nightmare? Will, for example, all the 200 companies tracked by broad ASX ETFs go bankrupt and eliminate their dividends? I'm curious.