First of all, all the growth stocks that Magellan had (Microsoft, Google, FB etc.) turned out to his most defensive holdings because they were superior businesses with unrivaled cash flow and net cash balances. He's now gone "half'n half" in growth/defensive, and the latter companies are trading on obscene P/Es but don't even have the growth prospects to back those valuations up.
Regardless, why are people betting using this method anyway? If you think his strategy will outperform, go invest in his global fund by all means... it's still a great product for the investor who likes lower volatility.
But to bet on MFG? Nobody remembers fund managers who were down by 15% when markets were down by 30%. They only remember managers who smashed the benchmark year in, year out and that's unfortunately where Magellan has now lost its edge.
MFG Price at posting:
$21.21 Sentiment: Sell Disclosure: Not Held
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