I reckon the shorts must have been using PTM as a guide. so similar to MFG in so many ways. rock star stock pickers - HD & Kerr Nielson, both value investors, divorced etc what's the bet they were saying something like "Magellan seems to be performing more like Platinum these days and it should be priced in a similar way, so let's make it happen." and so they did. Good on em PTM has dropped about 48% from the years high and MFG is down about 63% Now they both seem to be on similar metrics (as one poster has already observed) book to price - same even after the PEs are adjusted for the FUM outflow at Magellan probably the same too thing is can MFG drop much further? Maybe it can. but that would put MFG out of synch with PTM and get this - MFG may in fact be a better company than PTM, think about that.
MFG Price at posting:
$20.54 Sentiment: Buy Disclosure: Held
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