Will cutting immigration smash the stock market?

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The AFR says so:

Poorly constructed and strict immigration policy is one of the biggest threats to sharemarket returns, say some of the country’s biggest money managers.

An expert panel at the Stockbrokers and Financial Advisers Conference in Sydney on Thursday agreed Australian investors could face deteriorating returns thanks to short-sighted policy that curbed population growth.

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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.