Wenzel’s weekly wrap

James Hardie, downgraded its profit forecast by 10% this week on the back of a sharp downturn is construction activity in the US and Europe and a slowdown in Australia. Medibank shares continue to decline, falling a further 10% since announcing widespread data hacking, with all customer data in the hands of cyber criminals. Fund Managers miss the top of the market with Hamish Douglass, the former CEO and Chief Investment Officer of Magellan selling 13 million shares at $9.10 or $118 million.