McMillan Shakespeare wrap-up

It’s a standing joke that any time a stock falls for no obvious reason the newspapers label it ‘profit taking’, but it’s hard to see today’s 3% fall in McMillan Shakespeare as anything else. As we wrote in How to back Rudd and McMillan on 6 Aug 13 (Avoid – $9.07), McMillan had much to lose under Labor and much to gain under the Coalition. But it had already put in the hard yards as the odds on Tony Abbott firmed over the past few weeks, gaining 43% to Friday’s close. We closed off that article by warning that...

It’s a standing joke that any time a stock falls for no obvious reason the newspapers label it ‘profit taking’, but it’s hard to see today’s 3% fall in McMillan Shakespeare as anything else.

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