moss' legacy:)58 great entry point

http://www.theage.com.au/news/business/macquaries-moss-legacy-of-holy-dollars/2006/03/29/1143441216972.html

This is quite a read but similiar to the last article I posted up that had a somewhat 'past' tone about MBL. I think this one repeats a lot of it but it's more accurate and reflective of past, current and future events...

Highlights:
Macquarie is an unusual amalgam. While it contains elements of a conventional investment bank, it also acts like a private equity operator, venture capitalist, hedge fund, mutual fund and exchange-traded fund.

"Macquarie can bid more aggressively for assets because they have more sophisticated financing capability," says Hendrik van Brevoort, a London-based senior vice-president at Putnam. "They finance with debt. I don't know how they do it, but they're able to finance at lower cost of capital than other people."

That doesn't mean Macquarie won't continue to win deals, says Nick Vidale, of Deutsche Asset Management, which owns shares in Macquarie Bank and some of its funds. "They bring operational expertise and a track record rather than just financing," he says.

The bankers who do business with Macquarie say it seldom makes risky bets. "There's a sort of Australian who can be quite brash, but the people who run Macquarie are anything but that," says Simon Murray, former chairman for the Asia-Pacific region of Deutsche Bank AG, who signed on in December as chairman of Macquarie's corporate finance business in Asia.