Comparing MQG and MFG- goodness, my head hurting has gone to a...

Comparing MQG and MFG- goodness, my head hurting has gone to a migraine.

One is a very high-quality business with a long track record of success and many lines of business to rely on if one stumbles. Investment banking, resi lending, funds management, ESG loans, corporate advisory, commodities markets. Macquarie is very well established and entrenched in these areas - an awful time in capital markets isn't going to stop the ESG transition or commodities from being dug out of the ground. I don't think anyone experienced in markets could possibly dispute the quality of Macquarie. I loaded the truck up at $85.

Magellan is a one-trick pony. Its business model and prospects are entirely predicated on the alpha generated by its global equity strategy. That alpha has now vanished and putting yourself in a customer or adviser's shoes, why would someone pick a Magellan ETF versus a competitor or el-cheapo Vanguard global equity ETF?

St James asked itself that very question. I don't think Magellan will ever recoup its performance.

12% dividend, hahahahahahaha! And I'll date Jennifer Hawkins one day.