So here it is - the current spread of investments in Magellan’s...

So here it is - the current spread of investments in Magellan’s flagship fund - the Global Fund.



A steady, if slightly underwhelming, mix of stocks .....Alibaba and Tencent now gone.....and the latest casualties Meta(Facebook), Netflix and Amazon all well down the table.

Should generate moderate returns if you stick with it......but in these times where everyone is so desperate to ‘outperform’ it will probably do little more than steady the FUM....it’s not likely to grow it much because there’s not much there to differentiate it from the next fund (ie to attract ‘inflows’)

Then again this obsession with ‘alpha’ is probably what got Magellan into this mess - ie piling into Chinese tech.

Chasing excess returns sure comes at a risk.

Look at Cathie Woods once celebrated ARK innovation fund ....15 months ago $156.....last night it closed at $47.13

I’d like to know where all those $billions that was pulled out of Magellan actually went - went off chasing alpha somewhere I suppose - may well have enjoyed better returns if it had have just stayed with Magellan ....but that’s all water under the Hamish Douglass Memorial Bridge now.

So I’m not sure where I’m at with MFG.

Obviously it’s completely lost its mojo and its swagger.

The $35 options are a gimmick and a bit of a joke. To be honest they annoy me on my table of holdings.

I’ll continue to hold the MFG stock I have left at this point because I think the market will slowly come to figure that MFG is not going under and might re-rate the stock to $20 ....but as far as a long term recovery to $35 plus....I just can’t see it.