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MQG - MACQUARIE GROUP LIMITED


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Hi Mista,

Mac is one of my longest term holds.

Have been an account /share holder since Inner Circle days (hehe I am old)

In my terms a financial version of Westfield and very good at what it does. (usually).

Happy to see it turn the right way, and hope you do well this cycle.

regards,

Nebo.

PS i am reading, you are not alone ;), just dont post often.

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  • 4 weeks later...

Hi Nebo,

 

Took a long position today 3491 which matched a swing low target I had penciled in on 19th Nov. Would have been better trading short from that day rather than waiting for a long entry... but I wasnt that smart. See how we go with a tight stop.

Not all that interested in new positions between now and mid January, but for some reason I let the bid fill that has been there since the swing high 6 sessions ago.

If this thing does make a pivot bar low, will post a target once the ink dries on the chart.

 

Cheers, M

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Hi Mista.

I too topped up some into the super in the last couple of sessions.

Unfortunately they have been a drag on performance the last year or so but traders will return and deals will be made in the next few years.

(I am getting old but will be around (hopefully, as i like standing vertical) for the next bull run.

I dont trade very much, but i do like reading posts on SS, by those that do.

I dont have the time / fortitude to watch the incremental coming and goings.

Personally i do believe their sell off has been overdone, 1 or 2 years results had to be bad considering their business and the times we have / are going through.

 

 

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some sage words on Macquarie from Argo Investments - who have held it since involvement in Hill Samuel

 

I will specifically comment on two of the twenty largest holdings. Firstly, Macquarie Group Ltd. has been a casualty of the global financial crisis. During the early stages of the recovery from this event a significant number of companies needed to recapitalise, providing a considerable amount of corporate activity for the investment banking industry. As we have moved into the next phase of the global recovery, we have seen slower growth in the developed economies of the world and a marked slowdown in corporate actions. Macquarie, with its large fixed cost base, is highly leveraged to activity levels and with the lower levels of activity being experienced, is suffering along with their investment banking peers from much lower earnings and a more opaque outlook. We believe that Macquarie will benefit when the uplift in the activity cycle does resume. Unfortunately, the timing of when this might improve is uncertain with European debt issues still to be resolved and the slowing US economy.
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Hi,

 

Bailed MQG , bit disappointed with its performance compared to many other stocks today.

 

Cant be bothered this time of year, more interested in the Xmas break and thinking about what Santa will bring me.

 

Merry Xmas to everyone, M

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  • 1 month later...

Had a few trades MQG since my last post, reason for this one may make a couple of people here happy even if I'm not one of them.

 

Have traded MQG very poorly,

Dec 2

I sold just before price expanded higher.. had to scramble to take some profit from that move but missed about half of what was possible and sold on 17th.

Bought back in on 4th Jan at close of what I thought was reversal signal ( higher open, rejection of the low and a close higher than day before, combined with volume increase)...

Then on 11th, sold when volume had declined each day since entry and then that day price declined on larger volume (a sell signal for me).

Next day on 12th had no follow through to downside so I placed a contingency buy stop above the market to put me back in if price jumped.. the gap up jumped my trigger so was not filled.

 

Have missed all this rise, this is the biggest problem for short term trading.

I also failed to set an alert, meaning the gap over my buy order went unnoticed, another error.. Result is I have missed a huge chunk of the action on a stock which I had intended to hold and trade the swings.

Have placed a BIG red circle in the trading diary around this lot.

 

Cheers, M

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Hi Mista,

This is one of my problems.

I usually pick a winner but have trouble timing.

so I dont try and day/ week trade.

I tend to look for bottom type formations and buy.

I sell if it goes pear shaped but am comfortable holding, (as i dont use gearing) and it isnt my primary source of income.

Typically I would hold a stock for 3-12 months. (looking for cash rate plus x% profit).

Mac just happens to be one of my long term, have been in since 1994 and they have always spat out a decent dividend.

(usually when i sell them for some reason or another, they find a reason to rally )

and yes, i always try to learn from the bad as well as the good trades.

regards,

Nebo.

 

 

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Hi Nebo,

 

Glad it's working for you. When trading is for long term wealth creation rather than as income, it is a different proposition.

 

I understand you can afford to be far less active with a holding, yet if you have held MQG through the GFC, you have incurred a huge loss of opportunity. You could now hold 6 times as many shares for no additional cash input. Hope you took advantage of this method of wealth creation, if not I hope you look at this for your own benefit in future.

 

I put my poor trading in this instance as balance for all usual examples shown on SS. I'm not complaining though, this is only one trade out of many. Have had a huge number of trades recently and I rely heavily on my trading platform's ability to place contingent orders. It's possible to place buy, stop, targets and alerts etc at same time, without these features I would not be able to manage as many trades as I've had going

 

Cheers, M

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Hi Mista,

Actually all of my original mac, i have now is free carried. (not that i have a huge amount)

I sold my original stake many moons ago to install a printing press,

In my business.(sold my oxiana at same time).

I took my profits and ran.

Kept some mac because of dividends which Ox wasnt offering at the time.

but yes i know what you mean.

Many opportunities come and go and you have to be awake to them.

regards,

Nebo

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