I really don't mind the price dropping. Magellan are a defensive stock portfolio so uncertainty and negative markets are their specialty. With such a low beta if markets continue to slide I wouldn't be surprised if inflows increase. Especially when there's no alternate such as bonds with the terrible interest rates around worldwide. Definitely picking up more and accumulating nicely. The price is almost back to where it was in COVID and that was with FUM in the 90B's. I guess I am waiting for the over reaction to fall away eventually and then the bargain will be revealed. But totally understand other views.
MFG Price at posting:
$38.11 Sentiment: Buy Disclosure: Held
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