My thesis is based on 40 plus years of behavioral finance observations.
When people lose money (including institutions) they pull their funds out.
Not rocket science.
Am not for a minute suggesting the future of markets is a known quantity, but "don't fight the FED" for 20 years of easing down to ZIRP drove markets up. The FED is now on a mission to eradicate inflation Volker style (not A Burns). IMO this inflection point is irreversible and will lead markets down for a protracted period.
Under these conditions, active managers finally get a chance to employ risk managed positions rather than fight with the brainless flow of moey into rules based algorithms.
We can only know the outcome in a few years, so following pips over the next days, weeks or months is of absolutely no interest to me. I am an active investor who has done OK over the years. Just saying.
Hope this clarifies my position for anyone who may be interested (or not).
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Valuation still looks convincing, page-8
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Last
$9.81 |
Change
0.190(1.98%) |
Mkt cap ! $1.773B |
Open | High | Low | Value | Volume |
$9.61 | $9.82 | $9.55 | $5.448M | 559.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 875 | $9.79 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$9.82 | 1469 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 1822 | 9.770 |
4 | 3894 | 9.760 |
2 | 5825 | 9.750 |
2 | 3344 | 9.740 |
1 | 1526 | 9.730 |
Price($) | Vol. | No. |
---|---|---|
9.820 | 1000 | 1 |
9.830 | 4401 | 6 |
9.840 | 2522 | 2 |
9.850 | 6479 | 5 |
9.860 | 3633 | 3 |
Last trade - 16.10pm 18/07/2024 (20 minute delay) ? |
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MFG (ASX) Chart |