Macquarie Momentum – the strong survive and thrive
Macquarie Group’s (MQG.AX) head of U.S. Capital told Reuters that Mac “will continue its Wall Street hiring spree and keep its eyes open for more boutique acquisitions”.
This quote by Tim Bishop highlights part of Mac’s growth potential. ”We have a unique opportunity in the U.S. to grow and build out what we’ve done elsewhere in the world. What we’re doing here is entirely consistent with what were doing in Asia and Australia.”
We only have a small parcel of MQG now, having sold down progressively throughout the $40s, after some early profit taking post the share purchase plan. It was a nice, fast ride up.
Macquarie continues to be a fine example of my luck, stupidity or big picture brilliance, perhaps all three. I bought on the simple premise that the strong survive and thrive and held on for a wild ride.
It was only 3.5 months ago that the share purchase plan gave investors the chance to buy at $26.60 and only 40% took up the offer. Mac closed today up $2.84 (5.18%) at $57.63. The volatile ride continues.
An investor may ask, ‘how long before the Millionaire Factory is once again cranking out the dividends?’ While a speculator should be wondering ‘if the market pauses will Mac’s fast rise seem sedate compared to its retreat.’
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