Assuming the market continues to struggle, then the 10 ASX buys could head south by 5% odd, therefore a 7.5% IPO discount is marginal at best(capped $50K, looking at a few hundred dollars - better off elsewhere).
Also the markets look messy, which will reduce the attractiveness of MFG head stock's outlook. Now i know why there was no outlook statement provided, the outlook is too uncertain. I know its rebounded in the past, but those times were different. Its going to struggle to boost any retail volumes, and institutional volumes growth will decline.
With no clear NASDAQ or S&P500 catalyst, next year EPS growth could slow to the high single digits or so.
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