Agree completely.I think Hamish really needs to come forward and...

Agree completely.

I think Hamish really needs to come forward and affirm his commitment to Magellan and the funds they manage.

It is evident the hostility towards Magellan, especially the cohort that have always referred to it disparagingly as the "most expensive ETF" - are piling on.

Unfortunately, I find myself invested with two managers who are on the nose and bearing the brunt of countless media articles - attacking both their poor performance and exorbitant fee structures.

On one side, I have Rob Luciano of VGI Partners and on the other, Hamish Douglas of Magellan.

The two have been outed for charging a premium, but delivering little. To Hamish's credit, he is definitely more charismatic and seemingly approachable than Rob.

Nonetheless, like many on here - I chose to pay the higher fees (hoping) it would benefit me in the long run - offering both downside protection and reasonable performance.

For this... I have achieved next to nothing in the past four years - whilst those who gamble on some non-fungible token, or one of the thousands of cryptos have made quite literally millions. Likewise, those who have eschewed active for passive - have done extremely well. Not to mention the fact they are often paying a fraction of one percent.

The question I have is how long does the system continue to benefit those who seemingly equate investing to gambling - research to reading reddit posts and following "finfluencers"?

I haven't been investing for too long, but anyone that doesn't think the current state of just about every asset is ridiculous - has their head in the sand.

And for those that think I am some decrepit old man, lacking any knowledge of blockchain applications - please sit down. I am directly involved in both the research and analysis of cryptocurrency. What has this taught me? The underlying technology is a game changer - "doge" "shiba inu" are not.

Unfortunately, and like many have pointed out, it will take a lot of pain and misery, before we see a realignment of what is of value. A reset in many respects.

Do I wish for it? No. But, what I see now is nothing but avarice and greed. Not just with respect to crypto, but also housing, energy and the very things we rely upon.

So here we are... paying the fees... hoping the man entrusted with our hard earned will make the right decisions. Let's all hope we have made the right decision, and not forgone a fortune by investing in the next thematic ETF fresh off the shelf.

To Hamish, you have never been shy of the limelight. Now is not the time to back away from the fight. The loss of a mandate is never a good thing, but get used to it... the tide of passive investments are going to swallow up every manager unless they adapt and more importantly, begin to compete on fees. Compete, not beat.

Good luck to all. There will be a lot of panic selling on a Monday... but soon enough sense will prevail.