Does Mike Smith know what a “yield stock” is?

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From The Australian:

Buying Australia’s high yielding stocks is a “no brainer”, according to ANZ chief Mike Smith.

“I think it was a sort of perfect storm, a whole load of things happened together and markets are fickle, that is the way they operate,” Mr Smith said today in Sydney of the recent carnage in global equity markets.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.