Errr - you do know that Packer sold out of his stake in Contango in March 2007 (at a handsome profit)??? And since then the Contango FUM steadily declined...
Circumstantial evidence perhaps - but combine that with what subsequently happened with Magellan...
My point was that Contango Asset Management as an in-house subsidiary/distraction of CTN was hamstrung in terms of business growth compared to an independent, fully-funded listed entity - backed by the Packers.
Well, CGA management and the market clearly think(s) so??
CGA Price at posting:
$1.86 Sentiment: Buy Disclosure: Held
