McGrathmaggedon crashes toward oblivion

Wednesday, 31 January 2018

No news to add but worth noting yesterday’s rout in the stock, down -10% and violating new lows in the handsome bear market:

Why would it stop falling given the Australian property market has barely begun to correct and the only value left in the business is any goodwill that the market ascribes to the one man band. Is McGrathmaggedon’s shattered credibility worth a market cap of $63m?

As an investment prospect, McGrathmaggedon is worthless.

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.