Ann: Launch of Magellan High Conviction Trust, page-38

To suggest on current information that dilution of stock and "no outlook" are headwinds is disgustingly idiotic, or simply dishonest. Don't express opinions strongly unless they have some realistic basis.

Explain exactly the numbers showing dilution as a significant headwind (because it clearly isn't one if you show them), and what you mean by no outlook? Since the Trump election, there have been at least 15 times (no hyperbole) where the majority of pundits where betting on a rapid decent into market collapse or recession. At this point, no numbers from corporate results nor indicators from the real economy have even REMOTELY reflected this sentiment.

And again to cut the dishonest bullshit, you say "no outlook", well if you've read results from this company for the past 5 years they've never had an outlook or expectation for earnings numbers of the future year because this isn't that kind of company, its a managed fund company dependent on the stock market which can't, and particularly in the past 3 years has absolutely not been predicted with any accuracy by the vast majority of pundits in the media. What outlook do you expect? "15% earnings growth"? Again, if you're expecting something akin to this, you don't understand the company or the industry, using this as an attack point does nothing but make you sound clueless.

I think the drop in price today is very fair based on the extremely high valuation of the stock, realistically it was pricing in no risk, and even X factor growth from new products no one had any certainty on. You don't need the idiotic, baseless blather you're putting out to explain the drop. The fact you resort to referencing the new trust as some kind of a negative on the company is the cherry on top of your dumb dumb cake. A more liquid and ASX traded exposure to their high conviction strategy from one of the most successful global fund managers in the world no matter how you put it is a positive, not a negative. Are we pretending that a company looking to increase EPS and their FUM is somehow a negative now?

What a disaster of a post.