Mate - no offense, but it has nothing to do with speculating on a job number in the USA.
MFG has been going up because it is growing its funds under management.
If you read the announcements you will see that on Wedensday they announced the FUM numbers for June.
During June alone, they increased FUM by a quarter of a billion $$$ - $266m to be precise.
Since 1st February, FUM has grown 37% from $2.91billion to just over $4billion now. It has grown 50% since 1st November after flat lining there for a few months between 1st June last year and 31st Oct.
This stock had a total of $393million FUM at 30th Jun 2009 but since then it has been going up, up up.
Ive been holding this stock in my Super fund since 2007 and I topped up during mid 2008 at 80c & 53c and then again in late 2010 at sub-$1.30.
The return is starting to deliver me some serious profits and allows me to have a "play" with some of my speccy miners I follow.
As long as they keep growing FUM, and markets continue to show signs they have bottomed, I will hold this for the long term. I have met the guys that run this show - Douglass & McKay - a number of times and in my assessment, they are without peer among the domestically-based fund managers/analysts. To date, the MFG guys are the closest thing to a Warren Buffet that I know.
Go to their website and you'll find out all about their major investment exposures - the likes of Google (their biggest single shareholding in the Magellan Flagship FUnd), Ebay, Proctor & Gamble, Yum Brands etc etc.
Needless to say, the other stocks in my Super Fund besides MFG just happen to be stocks that Magellan also own.
Coop
MFG Price at posting:
$2.46 Sentiment: LT Buy Disclosure: Held
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