In the latest edition of Smart Investor magazine, Kerr Neilson of Platinum Asset Management is interviewed and the article says this of Magellan
"Known more for it's Buffett-style portfolio, based on the global brands it holds skewed towards the US consumer, Magellan has produced consistent excess returns above the benchmark over every period; it's 12 month performance to November outpaced the MSCI World Index by 8.6 per cent.
But Neilson is betting this style of investing has run it's course. "Anyone focused on a particular style of investing has to be aware that may not endure," he says. "It never does."
I wonder if readers of the magazine had anything to do with the price drop/profit taking?
MFG Price at posting:
$22.18 Sentiment: Hold Disclosure: Held
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(20min delay)