Personally I like the space(s) they're in. I started putting a toe in the water very early, and watched Geoff gobble up huge quantities of shares nearly every day for quite a while. They now have a nicely building profit reserve, and plenty of headroom for NTA capital appreciation. So should be plenty of FF dividends and some capital appreciation to come, despite the current market troubles. Of course these attributes do tend to lock you in - it's hard to walk away from profit reserves that you've had a hand in building.
But after a couple of nasty surprises recently relating to performance fees (TGF I'm lookin' at you), I need to look at the performance fee situation. Also a concern that there will be double ups in performance fees by virtue of WMA utilising subordinate fund managers for their investments.
Happy to accept any criticisms of my opinion - have at it guys!
WMA Price at posting:
$1.11 Sentiment: Buy Disclosure: Held
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