So I have sold out, for loss that won't break me as it was...

So I have sold out, for loss that won't break me as it was a relatively small position. Not sure if it will turn out to be a bad idea but will just have to accept and move on at this time. I did believe in MFG, but do agree with the many cautious sentiment here.

There appears to too many potential risks to the downside despite the change in Board and management team. Namely,
- Potential reduction in fees which will hit revenue and profit;
- Continual decline in FUM due to loss of trust and this will ripple through investment community;
- Potential further under performance in short term, though think this risk is a bit lower;
- Best interest duties for advisers: makes it hard to justify investing in an underperforming funds
- Analysts downgrade next week in light of today's announcement adding to selling pressure

I do think potential thrift investments in Barrenjoey, GYG, Airlie could do well but this play out in the medium term. Dividends could give this a boost but may see further downside post ex date.

I was trying to hang on because Hamish and Chris have large holdings and will want to steer this ship right. But that may take time and there may be weakness in the short term.

I'd be keen to get in if the entry price is much lower so that risk reduces. This decision to exit will help one sleep better. Good luck to all