Chanticleer

What Andrew Pridham learnt from 30 years of crises

The veteran banker says the current property downturn is nothing like the GFC or the early 1990s recession. But three key lessons from those periods apply today.

Sep 12, 2023 – 5.00am

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At the height of the global financial crisis, MA Financial co-founder Andrew Pridham started asking himself a rather existential question for an investment banker: what if the world had run out of money?

“I thought, maybe there’s no more money in the world, and it wasn’t far off. Banks couldn’t refinance, it was impossible to value things, it was impossible to do things,” Pridham recalled at The Australian Financial Review Property Summit in Sydney on Monday.

James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine.