The Magellan (ASX:MFG) share price is now down 40% since July

Today was yet another day of bad news for the Magellan Financial Group Ltd (ASX: MFG) share price. Magellan shares have closed at $34.27 a share today, down a nasty 2.8%. That puts this fund manager pretty close to its 52-week low of $31.34.

It also means that…