'I think I've made a mistake': Gerry Harvey loses $1.5m trying to beat plunging market

Retail magnate and Harvey Norman founder Gerry Harvey has proven the investment adage of 'never try to catch a falling knife' after losing $1.5 million trying to bag a suite of bargain shares on Friday.

from his Adelaide Magic Millions racehorse sale that he spent $1 million each on 15 different stocks – a total of $15 million – following the week-long market rout on Friday, hoping to catch the bottom of the market and secure a good yield.Mr Harvey picked up shares in Woodside, BHP, Rio Tinto, Australia’s big four banks, Computershare and, of course, Harvey Norman, many of which were at 12-month lows due to coronavirus fears infecting global markets.

I don’t think it’ll worry him.

I’m sure he made a bet against the Australian currency a decade ago and that didn’t go well either.

Sorry it wasn't more.

Did he really miss it?

I made a mistake buying something from Harvey Norman for $1.50

Maybe we should start a GoFundMe page for him?

Greed personified ..Gerry Harvey

Spilt from his back pocket.

He'll make it up via his high price points.

Unless he sold the shares and lost his money, this is not the case.. It's called the waiting game. As usual B S news from SMH, catering for its un-educated lemming readers.

Couldn’t have happened to a nicer bloke

The only reason I still go to Harvey Norman is because they deliver on a Sunday and Good Guys always like to talk themselves out of the sale

Losing some of your grey cells Gerry? Perhaps you’ll end up where you started!

Any bets Morrison will use the stimulus to bail him out?

Full of bullshit old Gerry. As long as he has not sold at a loss, he has not lost a thing. FAKE NEWS !

If things get worse and our loo paper is all gone (soon) we decided we will cut our junk mail into squares starting with the Harvey Norman catalogue first.

This guy just moans incessantly about being rich

Just a racehorse to Gerry! 😂

Hmm One Or Two of hes Race Horses will cover that

auspol

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