MQG is my 3rd biggest holding. It is only 3rd because 2 small...

MQG is my 3rd biggest holding. It is only 3rd because 2 small caps raced past it. It is one of the few growth shares trading at a sub 16 multiple.

The biggest issue is that it is in the financing and infrastructure financing business and we do not know how interest rate increase will affect it.

All I know is that Macquarie has some of the smartest people in the world working for them and I trust that they have done their hedging etc correctly.

Remember 1.5 years ago Macquarie was trading at 75? And it was in front of the afr that they were holding junk bonds. Well those junk bonds would have doubled in value over the past year. So I trust the smartest people in the world to work for me.

Another reason I hold Macquarie is that they (apart from gfc) always under promise and then over delivers. So we normally gets nice surprise at announcements time

The share is cheap compared with a lot of others I would not be surprise if it end the year $125