It is hard to make sense of the market now as the dislocations in valuation are extreme. Australian Ethical Investments forecast a piddling H1 FY22 Pre Performance Fees profit of 5.5 mil and is valued at 1.57 Billion. Platinum Asset Management Asia focused fund had a profit last year of 163 million and is valued at 1.55 billion.
Janus Henderson JHG went through the same turbulence a couple of years back and I bought in around 27. Unfortunately I sold in the high 30's instead of putting it in the drawer and forgetting about it and its now 58. Challenger went through a similar experience falling as low as 3.85 a little while back and now 6.41.
Those of us that think there is a value opportunity here just need to grit our teeth and buy. It does not appear there is any massive negative structural issue that we are missing and the analysts are missing
PDL Price at posting:
$5.84 Sentiment: Buy Disclosure: Held
