why is this busines "in so much trouble"? they have no...

why is this busines "in so much trouble"? they have no debt......still have c70 billion in fum generating fees....plus equity investments in gyg, barrenjoey and fin clearn which all will generate additional future income for them....lets also put the 70b in fum that they have in context....that is 3 times more then platinums fum.....but platinums ( that is only a pure play fund manager) market cap is c1.3b and Magellan at 2.8b? what is happening here is that shorters are massively attacking...about 5 percent of mfg is short sold......this reminds me of when Macquarie was in the teens around the gfc... once in a lifetime opportunity! hamish may have left but the team under him are still in place and he still owns 12 percent of the company. once he gets better.....i wonder if he would take mfg private?