Im with thunderhead, Buying every day nearly. How a company can almost halve with no major fundamental change except UBS downgraded them for stealing all their good bankers. FUM will be down a little to 114 or 115 through market losses. Nothing supports the reasoning for such a sell off. I bet UBS borrowed of other institutions and applied the short sell pressure to this also.
Just think in a years time. Future pay is growing in FUM more and more, the core options flying, a few deals done by Barranjoey, FUM continues to build with the USD dropping a little and inflows back into the quality stocks they own. If anything there is no evidence to say this company is worth 40% less than what it was a month or 2 ago. So it is oversold.
I am rolling my swag out and camping in the buy screen as long as it takes to get to the bottom. I'll stop buying once the green days begin.
MFG Price at posting:
$33.91 Sentiment: Buy Disclosure: Held
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