Well at $9.50 the share price is close to my initial target of...

Well at $9.50 the share price is close to my initial target of $10 for this year and now it has earnings it looks currently expensive on a simple P/e basis and may hang around here, but of course the managed portfolio platform is still accelerating its growth rate and expanding margins, and as an annuity income business its just going to keep on going on. Yesterday’s 5% move showed that despite gentle offloading by the early adopters there is plenty of latent demand by new people seeking exposure. To be just 0.4% of industry FUM but capturing 10% of flows is a staggering achievement and industry changing. Historically a bank would now buy them with a bid of say $15 a share to protect their asset business, but the world has probably changed. Anyway its now my largest individual holding, but I just cant see any reason to reduce it (other than for some pension or a compelling alternative investment that so far hasnt appeared). Here I am at 65 and all my major holdings are in “disruptive” stocks like HUB, KGN. No I think with HUB, FUM momentum will carry it onwards and upwards and then dividends will start flowing, and once a cashflow starts from a holding, the pressure comes off a retiree like me to churn and burn some. Hence so many people just hold banks. I dont like dinosaurs, even a protected species as they are here. Look its going to join the indices, growth is so strong that it cannot be judged on P/E, just let naturetake its course. $15 by @pril is my guess target.