Outsider has to admit that Magellan co-founder, Hamish Douglass has more than earned his reputation for making the right investment calls. After all, Magellan’s financial results and the performance of its funds speak for themselves.
So, the question in Outsider’s mind is, to what degree did Douglass back himself when setting up Magellan? I mean there is confidence and then there is, well, very strong self-belief.
How else does one explain the vehicles via which Douglass holds his interests in Magellan, particularly “Midas Touch Investments Pty Ltd”.
King Midas is, of course, remembered in Greek mythology for his ability to turn everything he touched into gold, so it is pretty easy to see what Hamish might have had on his mind when he established that particular vehicle.
It is unquestionable that Douglass has created a fair bit of gold for Magellan investors but Outsider wonders how the current US/China trade war will impact some of his market calls, particularly those in the technology sphere.
Alchemy is such a dark art.