Taking Stock 

Unenlightened self-interest

Taking Stock

Unenlightened self-interest

Back in October, we referenced an article published by Bloomberg journalist Adam Haigh lamenting the state of Australian equity markets, which have become hamstrung by “limited innovation and an inability to diversify beyond embedded industries”. The relatively moribund state of Australia’s equity (and capital) markets, or at least the conditions that gave rise to it, came to mind over this past week due to media post-mortems over the collapse of Carillion, together with the ongoing dispute over whether the UK should remain part of the EU Customs Union. The willingness of insiders at the doomedconstruction services group to go cap-in-hand to ministers is perhaps unsurprising – galling though it may be. But what are we to make of the seeming inability of the Confederation of British Industry (CBI) to grasp what life might be like outside a protectionist trading bloc? Surely, the only conclusion is that mercantilism is alive and well in 21st century Britain.

To continue reading, subscribe today

and enjoy unlimited access to the following:

  • Tips of the Week
  • Funds coverage
  • Weekly features on big investment themes
  • Trading ideas
  • Comprehensive companies coverage
  • Economic analysis
Subscribe
Subscribe to Investors Chronicle

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now