MARKETS SPECTATOR: More pain for Macquarie?

Macquarie's shareholders look likely to experience more disappointment, and question marks remain around the group's management strategy.

The symbol of Australia’s biggest investment bank, Macquarie Group Ltd., is a 19th century Spanish silver dollar that had a hole punched through it. Long-suffering shareholders could be forgiven for thinking that’s an appropriate symbol for Macquarie’s earnings.

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