MFG performance was well below the market indexes were only during so called “re opening trade” period, like the period when government stimulus, discovery of vaccines period just after economy has shut down. During this period all the other stocks which suffered heavy losses when the bad news hit the market, will recover faster as those are starting from a low base. This is exactly what happened from July 21 to about Feb 2022. People are making a big deal about this short period performance of MFG for about 1 year. Same scenario will play out with current mutation of the virus. Lot of unknown about Omicron yet but governments and central banks may play the same roles if it becomes serious. Hamish being conservative took the safe option piling up cash during July 20 to Feb 21 period. I think at one stage it went up to 20B in cash. What will he do this time? My guess is that with his type of investments philosophy, he is not going chop and change will stick to finding long term outperforming stock in his portfolio.
MFG Price at posting:
$32.00 Sentiment: Buy Disclosure: Held
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