Macquarie Group

Macquarie Group’s share price has increased 20% since the previous update on 26 Jul 12 (Buy – $24.36), as investors bid up share prices due to lower interest rates at home and central bank money printing abroad. With our margin of safety thinning, once again we’re downgrading to ‘Hold’ and selling 140 shares from the model Growth portfolio to reduce the position size to around 4%. If you made Macquarie a large position in your portfolio at lower prices you might consider selling some shares to reduce the risk within your portfolio. Large position sizes should be saved for...

Macquarie Group’s share price has increased 20% since the previous update on 26 Jul 12 (Buy – $24.36), as investors bid up share prices due to lower interest rates at home and central bank money printing abroad. With our margin of safety thinning, once again we’re downgrading to ‘Hold’ and selling 140 shares from the model Growth portfolio to reduce the position size to around 4%. If you made Macquarie a large position in your portfolio at lower prices you might consider selling some shares to reduce the risk within your portfolio. Large position sizes should be saved for less leveraged businesses and those with cheaper valuations.

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