The people buying this stock are suicidal. A fund manager CANNOT survive without good performance and Magellan's core strategy is failing miserably in that regard.
Guys just look at the global equity (hedged) fund's performance as at November 2021 below. Trailing the benchmark by 14.5% in one year??? This is the guy who told people to 1) Buy the #1 & #2 businesses in their field, 2) Hold them for a long time and, 3) Don't try and time the market all while having the resources of people like Janet Yellen and CIA spies.
And this is what happened...
You are not betting on the Visa's cross-border transactions or commodity prices recovering here, you're betting on one man who has been flamed, is going through divorce and has probably lost his confidence after he exerted the hubris to think he could time how the market played out during COVID.
It's a bad bet.
The people buying this stock are suicidal. A fund manager CANNOT...
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Last
$9.85 |
Change
0.090(0.92%) |
Mkt cap ! $1.780B | |||
| Open | High | Low | Value | Volume |
| $9.87 | $9.93 | $9.77 | $2.846M | 288.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 837 | $9.84 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $9.88 | 1000 | 1 |
View Market Depth
| Last trade - 16.10pm 29/07/2024 (20 minute delay) ? |
| MFG (ASX) Chart |