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Douglass’ Magellan selldown poses $733m question for listed fundies

The massive amount of money Hamish Douglass left on the table by not selling at the peak raises a question for listed fund managers.

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Two years ago, a share selldown at Magellan Financial Group by the company’s co-founder and former talisman, Hamish Douglass, would have sent the stock into a tailspin.

But the market reaction to the news that Douglass has sold about 13 million shares at $9.10 a share, which was broken by The Australian Financial Review’s Street Talk column late on Monday, shows how much things have changed.

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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
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    Original URL: https://www.afr.com/chanticleer/hamish-douglass-selldown-poses-733m-question-for-listed-fundies-20221108-p5bwi4