mqg- a great buy, page-8

that's probably what makes is such a great company.
They pioneer a model and can simply move onto the next opportunity and do well out of it.

while the global investment banks for falling off a cliff, MQG had plenty of cash and continued to raise a warchest.

They bought energy trading businesses in the US from more or less a fire sale. They have been buying boutique fund managers around the globe...which may give you an idea about the next growth opportunity.

Anyway, they have a history of growing when others are in trouble. They did it when they bought Bankers Trust investment bank in Australia in 1998 for nothing, they did it when they bought INGs Asian operation (old Barings Bank), also for almost nothing (which now accounts for a good portion of their profits), and they are now showing the way through their recent acquisitions.

A smart operator and no doubt will reward.