The first thing a lot of experienced managers do is go to cash? Strong disagree - many managers have had the best 18 months of their careers, simply by not panic selling in March 2020, in the knowledge that central banks were coming to the rescue. Then they bought the dip, hard.
Hamish is a great manager, no doubt. But he totally missed the play - there's simply no other way to cut it - and shining stars do fall (Neil Woodford?). Having said that, I think he'll be able to turn it around as he fights his career and reputation. Will be watching this closely over the next few weeks and months for a good entry point, but jeez it'll be bloody for a while yet.
MFG Price at posting:
$29.36 Sentiment: None Disclosure: Not Held
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