Magellan's Hamish Douglass has owned up to making a handful of poor investment decisions as the chief investment officer of the multibillion-dollar global fund manager, including loading up on Australian dollars as a defensive position just before the bottom fell out of the currency.

The Australian-based global fund manager is celebrating the tenth birthday of the flagship Magellan Global Fund launched in July 2007 and has grown to $50 billion under management. On Monday the firm sent a video to clients and advisers reflecting on the firm's successes and failures.