After the Allco and MFS fallout (very painful personally), I've lost faith in this style of company. Macquarie is probably a cut above the rest, but I'm still weary.
anyone suspicious about the timing of moss' departure?
No evidence, but you do have to wonder.
1. The share price is low, and these guys usually like to go out on a high note.
2. Moss is relatively young. About to turn 60 I believe.
3. Financially, running the Millionaire's Factory is about the best gig you can get.
There again, there's no way I plan to be working when I get to 60, and he certainly doesn't need to be working anymore, so why work till you drop? A couple of nice directorships might be all he wants at this time in his life.
i dont think there is anything in it.
a poster whom i respect on another board raised this and i put forward the case that there didnt seem anything in it. just interested in some opinions.
doubt he was sacked or even pushed, given how well they seem to be floating through this "credit crisis".
There was an article somewhere the other day (can't find it now) about the millions (50+) they had spent in buying MIG shares to shore up the shareprice from those nasty hedge funds who had shorted MIG
"About $3.2 billion of Macquarie Group stock is out on loan (as of April 24) which represents 76% utilisation of stock on loan and about 20.6% of Macquarie's market cap.
This would take 24 days of average-volume buying in the stock to close out the position.
The first date when the amount of Macquarie stock on loan surpassed $1 billion was on May 21 last year when US short-seller Jim Chanos went public with his position. He is believed to have taken his first short at $87.
It was on January 11 this year, however, when the dramatic increase in the short position really took place. There was a single loan of $28 million shares during the week of the credit crisis meltdown."
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Originally Posted by The Big Ease
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