Mr Market sets a trap

Too many investors are reaching for yield and taking on greater risks than they think. Better to adapt to the new environment and do nothing, argues John Addis, than fall for Mr Market’s most common ploy.

A few hours after research director Nathan Bell publicly called for Gerry Harvey’s head in the Sydney Morning Herald, Gerry left a message on Nathan’s mobile. Apparently, he was inquiring whether Nathan was after his job.

You can bet that Roger Corbett, chairman of Fairfax and a man dealing even less successfully with structural change, wouldn’t have been so amiable. Nor would former Gunns chief executive chief executive John Gay.

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