It's really sad how a fund manager who was able to generate 12 years of good returns and 1 year of bad return and all of a sudden he's the worst manager.
I was lucky enough to get an invitation to the Magellan Open Forum in Perth a couple of weeks ago. Most advisers I spoke to are to happy to back Magellan because they don't believe the negative press towards Hamish for getting the Covid rebound trade wrong was justified given his long term track record. I tend to agree. People are too quick to judge and amplify the negative and overlook the merits. Things would be very different if China had outperformed.
Ann: Trading Halt, page-25
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