I like everything you said, subject to a small clarification. The $41m "loss" was a non-cash impairment to MFG. Arguably, it had zero effect on MFG except to affect the optics of its bottom line due to GAAP requirements.
100% correct that price follows earnings, and it's a slight shame that the 2021 FY earnings are affected by this $41m non-cash impairment.
I like Chella's analysis in terms of comparative fund performance over the last 6 months, and it's an affirmation that I (hopefully) have picked the right horse. But let's see the what comes out of the next FUM.
MFG Price at posting:
$33.91 Sentiment: Buy Disclosure: Held
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