Interesting article in today's SMH about Macquarie's unrealised losses in its holdings in listed satellite funds:
http://business.smh.com.au/macquarie-loses-750m-20080608-2nlb.html
The writer states that MQG has lost $750m due to SP falls of Macq Airports, Macq Media Group, etc. but that these losses were not included as write-downs in their financial statements, as they value these assets at their book value (which has not fallen substantially), rather than their market value (which has fallen by $750m).
I don't think the fall in SP really matters provided the book value is still there, as essentially this means that these companies are trading at a more favourable price:NTA ratios (ie a good time to augment holdings). I have a small direct stake in MQG but overall have 3% of my portfolio in MQG via index funds and listed investment companies, including ARG, which has ~7% of its portfolio in MQG (~3.8m shares). I think now is an excellent time to add to long-term holdings of ARG or MQG (provided you're willing to tolerate some potential short-term downside).
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Last
$226.80 |
Change
2.780(1.24%) |
Mkt cap ! $86.44B |
Open | High | Low | Value | Volume |
$225.60 | $227.12 | $224.30 | $87.19M | 385.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 475 | $226.68 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$227.00 | 851 | 9 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 475 | 226.680 |
1 | 171 | 226.610 |
1 | 99 | 226.300 |
3 | 2255 | 226.200 |
1 | 1655 | 226.020 |
Price($) | Vol. | No. |
---|---|---|
227.000 | 851 | 9 |
227.050 | 136 | 1 |
227.090 | 200 | 1 |
227.120 | 1655 | 1 |
227.160 | 823 | 1 |
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