Magellan chairman Hamish Douglass and Platinum boss Andrew Clifford agree negative interest rates have crippled European banks, but the biggest risk to the equity market is that a negative rates mentality is so embedded that investors think there's no way back.
"This belief about zero interest rates is I think a very, very strong consensus amongst investors the world over," Mr Clifford, the chief executive and chief investment officer of Platinum Asset Management told Morningstar's conference in Sydney on Thursday.
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Vesna Poljak is the Companies editor. She was previously the Markets editor with a special interest in the investment industry, hedge funds and accounting. She is based in the Sydney newsroom. Connect with Vesna on Twitter. Email Vesna at vpoljak@afr.com
