Look who’s taking a royal commission pounding

Wednesday, 23 May 2018

Shares in listed mortgage broker and wealth advice group Yellow Brick Road touched a record low on Tuesday as Macquarie Group continued its sell down of its strategic stake in the company.

Macquarie, which previously held 19 per cent of the company’s scrip, ceased to be a significant shareholder this week, according to disclosures made to the ASX on Tuesday afternoon.

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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.