Signifiant Drop in Performace Fees from $42 M to $5M, page-18

You mean a rate rise in the United States?

So we are just trading this for currency exposure now?

I think NDQ an IXJ as tech and health global exposure at 0.4% would outperform over 5 year period than this high cost fund.

Yes he has built a successful business, mostly on the currency drop from 1.10 to 75c in AUD/USD and the demise of Kerr Neilson who kept betting contrarian and kept losing.

Very hard to beat the index over time with such a high cost structure. These Magellan fellas hardly even make bets these days, all mega cap, no brainers.

Except thier folly into Woolworths that was somehow on their radar as a global opportunity. Hamish had a full head of hair until he went high conviction on this stock.