Plenty of fizz in Douglass as he backs himself
Outsider would never be so unkind as to repeat the rather cruel description of Magellan boss, Hamish Douglass as “the San Pellegrino of Australian funds management” just because he may not have played his absolute “A” game lately.
No, no. Just like a superannuation fund trustee, Outsider knows that good investment management is a long game requiring an eye for detail, astute strategy and a certain amount of patience for when things don’t entirely go your way.
Just like San Pellegrino, the market doesn’t always fizz.
What is more, those who have raised a quizzical eyebrow at the occasional Douglass analysis of COVID-19 and the efficacy of vaccines should perhaps reserve judgement until the fat lady sings or finds herself on a ventilator – whichever comes first.
Thus, Outsider feels sure that Magellan’s dedicated investors and shareholders will not begrudge Douglass topping up his investments in the Magellan Global Fund and the Magellan High Conviction Trust by a modest 100,000 units apiece on the basis that if you can’t back yourself, who can you back?
Douglass watchers will know that his interests in Magellan are held via the rather modestly-titled Midas Touch Investments Pty Ltd, Douglass Employee Share Fund Pty Ltd, Douglass Foundation Pty Ltd, and Hambella Pty Ltd.
Not a mention of over-priced Italian fizz anywhere.
AUTHOR
The Outsider
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