I’m not disagreeing with you, my comment was more around how MFG is priced against the traditional players like platinum and colonial etc
inherently it is not the same, but the market thinks otherwise
this model is closer to Berkshire, using predictable cashflow from managed funds to build capital
only difference though, for this to work, they should also reduce dividends for the sake of better investment returns
but share holders, if comparing MFG with the ones above, will be disappointed if they don’t pay. Hamish himself would probably want a bit of dough in the name dividends
MFG Price at posting:
$36.61 Sentiment: Hold Disclosure: Held
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