Someone asked me a penny for my thoughts, so...here is my two cents worth...
I fundamentally agree with a lot of the rationale behind what Legume has posted....regarding valuations and the like.
The wild card in all of it is the potential for Magellan to pull another rabbit out of their hat like they did back at the beginning of November when they won the UK mandate for GBP1.5b.
I am in the fortunate position of having bought these a long time ago, and I am quite comfortable with the notion that I may not pick the short term top in share price when it comes time for me to take some profits.
Long term though, I am hoping that MFG builds a sustainable buisness and that they prove to be as adept as Kerr Neilsen has been over a long long time.
For the moment I hold...even though the stock may expereince a pullback at some indeterminate future time.
Coop
MFG Price at posting:
$6.90 Sentiment: Hold Disclosure: Held
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