Although the difference between MQG and BNB is that these management fees is just one part of the whole macquarie group. They are far more diversified and generating alot of fees through corporate advisory, broking, cash management etc etc around the world.
They also hold a number of very successful funds unlisted and have strong institutional support.
Importantly, they are very very well capitalised witha strong balance sheet to allow them to withstand the bad periods.
One thng people also forget is the Macquarie Risk Managment division is considered one of the best in the world. BNB, AFG, MFS....none of these groups onviously value risk management. How can you explain the BBP debacle?
How can you explain not thinking your market cap could fall significantly that a trigger event will occur. Arrogance! They need to dump Phil Green.
BNB
babcock & brown limited
