It is interesting to note that as at 30 June 2019, MFG had FUM of circa 85Bn and and market cap of 9Bn. At the moment it has FUM of about 95Bn and a market cap of just under 4Bn.
If you go back to the 1996 Berkshire AGM, Charlie Munger refers to Warren Buffett 's observation that when a company is at the second floor of profitability but in a rising lift, the market pays a high premium in comparison to the company that is on the 98th floor of profitability but is in a descending lift.
Some might argue that MFG is being priced as if the lift cable has all but broken. The assumption must be that the MFG business model is not sustainable. I am not so pessimistic and am happy to hold and wait this out. If I had bigger ...., I would buy.
Ann: St James's Place Mandate, page-222
-
- There are more pages in this discussion • 40 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add MFG (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$11.45 |
Change
0.190(1.69%) |
Mkt cap ! $2.047B | |||
| Open | High | Low | Value | Volume |
| $11.32 | $11.50 | $11.28 | $7.057M | 618.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 58 | $11.44 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $11.45 | 1610 | 2 |
View Market Depth
| Last trade - 16.10pm 21/10/2024 (20 minute delay) ? |
| MFG (ASX) Chart |