Some MFG introspection

Haven’t posted for a while on this thread. The trolls took over and it became a bit of a cesspit unfortunately......but I’m still ‘in’..........haven’t sold a single MFG share.

Admittedly, if I’d known it was going to get this bad I would have got out of course - I’m not that rusted on ......but having ridden it down to $18 I think selling out now could prove more regrettable in 2 years time than not selling out now.

See this screenshot from CNBC during the week where an analyst is talking about Spotify.





The 3 points represent how I feel about MFG......it’s so unloved and continues to tank at the every sliver of bad news that I think it really is now ‘cheap’ - that’s not to say it won’t drop further but if you’re prepared to be patient it might just pay off.

I concur with @Jack1960 when he says ‘ I neither praise nor condemn MFG for making a wrong call. After all, we are all human’ (incidentally @Jack1960 - keep up the good work - your posts ooze the maturity and experience in the market that really expose the smack talkers on this thread for who they are ....’investment hacks’ as you say - lol - good one)

I don’t praise or condemn MFG either - are the trolls going to come out now and say they saw the Netflix and Meta declines a mile off as well now ? Probably. I invested in Magellan (both MFG and MGF) to give me international exposure - to US big tech in particular......and that’s what I’ve got. I’m not going to carry on when one or two of them have a bad quarter .....it’s all part of the risk and because I’m in as a long term investment it’s not that big a deal.

I still believe the FAANG stocks (or whatever they’re now known as) will shape our lives and generate massive cashflows throughout our lifetimes.....I want exposure to them.

MFG and to a lesser extent MGF haven’t been great investments so far - but my overall investments are well enough diversified for me be able to soak this up without too much pain and now sit tight.

$18 assumes a pretty bleak future for MFGs FUM and attributes little to no value for Barranjoey, GYG, Finclear etc .....this may be vindicated......or it may not.

“Time is the wisest counselor of all.”
Pericles