Another MQG Director buy of $50k at $176. Read into it what you will

Hi All,

Just wanted to share my thoughts on Macquarie Group - certainly a less 'sexy' stock than the average stock held on Strawman. Disclosure: I hold in Strawman and in RL portfolio (3rd largest holding in RL portfolio).

On many metrics, MQG looks expensive today - at least relative to peers locally and globally (eg trailing PE of ~24). And on this basis, I'm currently reluctant to accumulate more MQG shares.

However, I'm not selling either, which is due to MQG's exposure to the green economy / climate change. It currently has 30 GW of renewable energy assets under development. However, more importantly - MGQ has created the capability (or muscle) to manage green energy projects end to end - from design to financing to operationalisation. Similar to Google or Apple's technology ecosystem, MQG has developed a system to play the green energy theme across its businesses - even within its retail banking business via the offering of loans for EVs to consumers.

I'm confident that going forward, MQG's earnings contribution from its businesses with exposure to climate change abatement will only increase. This should translate into a very healthy tailwind for total group earnings. This is a view shared by analysts from Jefferies and Morgan Stanley, with price targets of $211 and $240 respectively.