MQG $150, page-12

Many investors and fundies still clump MQG together with the other Australian retail banks, even though it is a very different breed of a financial institution.

I would say say they are pretty unique, not like a Big 4 bank, not like a fund so no MFG, not a CGF. A hybrid of all of that really, but what I like most is they have a big exposure to the US and global markets.

I do have a decent allocation in my portfolio, not big but not small either. Significant enough to keep the portfolio plodding along and if they grow earnings by 15% per year and maintain their current ROE which is closer to 20% until the next crisis, I’m happy!