Worth noting today that McGrathmaggedon has passed through -88% today since its preposterous float:
No news since the December update but the mortgage crash is all we need to know.
Surely it is now one of the great IPO failures of Australian history. Perhaps not the Dot Bomb as yet but it’s not over either…
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.
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