alphasigma,
the smart money always knew that MFS was little more than a boderline legal pnzi scheme. So the smart money was never there. Just the greedy money who tought the boom times and capital inflows would keep going for ever.
Or long enough for them to get rich and get out anyway.
Overpriced assets. C#ap management. Unrealistic growth expectations.
Wealth comes from creating value.
MFS tried to fake growth by buying substandard assets and leveraging for fees.
Game over.
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