One of our positions in the MM Growth Portfolio which has struggled for the last 6-months is Hamish Douglass’s Magellan (MFG) although the stock did trade ex-div 97c (fully franked) earlier in the month. The stocks been moving in tandem with the negative sentiment across both our fund manager and IT sectors but our “gut feel” is its gone too far and another $10 bounce would not surprise.
MM feels MFG is looking for a low.
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