In this The Australian Investor Podcast episode, Mitchell Sneddon Sitting with the seasoned investor. John Abernethy To unpack what market crashes teach you when you’ve been through several of them. Rather than chasing smart predictions, John explains why liquidity, leverage and investor behavior generally matter more when the market turns ugly.
John reflects on the 1987 crash, the dotcom windfall, the GFC and COVID, explaining how he thought about protecting capital, raising cash early when risks were emerging, and moving on when panics created better prices in listed debt, hybrids and standard businesses. This is a basic look at how experienced investors respond when fear prevails and headlines are louder than fundamentals.
The talk also traces John’s journey from banking and the NRMA to helping online broking in Australia, credit, balance sheets and understanding why incentives still give investors an edge. He also returns to a simple idea that feels especially timely in today’s marketplace: read widely, think independently and don’t let enthusiasm do the thinking for you. Buffett’s words, common sense and patience still matter.
If you want a clear framework for market crashes, bubbles and long-term investing, this episode is a stark reminder that the best lessons are usually the ones investors tend to forget.
