Ok so this is hard to watch as an MGF investor.....but some of my best calls over the years have been this exact scenario ....ie where a stock is sold down on sentiment and then takes another leg down as part of a broader market tumble.
As I’ve said before I think longer term a market correction is positive for FUM inflows and ultimately the MFG share price.
Lots of easy money made by competitor funds in the last year or two - they’ll be getting truly hammered now. This is where the defensive (downside protection) built in at Magellan will set it apart from other funds and eventually pay off.
Staying long MFG and looking to accumulate at these ‘spring sale’ prices.
MFG Price at posting:
$35.69 Sentiment: Buy Disclosure: Held
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