dont worry, the saving grace of the last 3 years will kick in again shortly......buy backs - great temporary logic, lets deplete the cash reserves to lower the SOI by 10m, down from ~$18Xm to ~17Xm?..... was it really worth it? >$100m wasted.....for? was it a defensive play? - dont want the likes of Regal et al to swoop in and capitalise? was it for a short term vanity fix? doesnt really move the dial from an ROE point of view. the significantly reduced FUM (+ continued bleed) far outweighs the miniscule shift in the share register, so, why do it? it just limits your options going fwd and shows lack of vision and inability of mngt to make more of an equity return out of it. the businesses ability to regenerate that cash has diminished significantly.....BB only make sense when companies are cash cows with run way growth horizons. this, sadly, is in decline and has been for years.
Jan25 FUM due soon? FX to the rescue (again) to counteract the large Jan25 fund distributions! should be juicy....cant wait for my monthly mfg fum fix!
MFG Price at posting:
$10.66 Sentiment: None Disclosure: Not Held
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was it really worth it? >$100m wasted.....for? was it a defensive play? - dont want the likes of Regal et al to swoop in and capitalise? was it for a short term vanity fix? doesnt really move the dial from an ROE point of view. the significantly reduced FUM (+ continued bleed) far outweighs the miniscule shift in the share register, so, why do it? it just limits your options going fwd and shows lack of vision and inability of mngt to make more of an equity return out of it. the businesses ability to regenerate that cash has diminished significantly.....BB only make sense when companies are cash cows with run way growth horizons. this, sadly, is in decline and has been for years.
(20min delay)