I bought in at $31 to the tune of 15% of portfolio. I really want you to be right re the drop but it's not just the 12% hit it's the potential exodus by other mandates and the reality that performance fees will need to drop and can't return until atleast a years outperformance. Also the sense that more skullduggery is going on behind the scenes.
It's been an eye opener for sure buying a fund management stock with little real intrinsic value.
Here I thought I was buying a blue chip... I could have had a gentler ride from a penny dreadful! Nevertheless Ima white knuckle this b/+ch for 5 years. Too stubborn to sell in the SP doldrums.
MFG Price at posting:
$20.51 Sentiment: None Disclosure: Held
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