Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
“Hello James et al, can you tell me what the problem is with Magellan (MFG). The company has one of the best in the business in Hamish Douglass steering the ship and yet the share price has fallen by ~24% since November?” - Cheers, Mick H.
Morning Mick,
I could easily say because MM was too slow exiting when we become a touch nervous above $60. I believe the stocks been sold off in line with the general switch from value to growth in 2021 because Hamish Douglass is a believer and hence very overweight tech, including a number of Chinese names. Arguably a position in MFG below $50 is a good hedge against an overweight resources stance.
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