The former Future Fund chairman said ANZ and all the big banks were "very aware of history" when it came to financial lending in the residential mortgage market. "There will come a time when there will be a correction," he told the Australian British Chamber of Commerce. "The fact is, anyone who believes prices always go up is, I think, a fool.
Mr Gonski also backed ANZ‘s Asian strategy, questioning why some in the market consider ANZ to be "riskier" than its peers because it is in Asia. "I believe it’s quite odd, I have to say, that we are regarded as a riskier investment because we have investments outside Australia. "I could very well argue that a good investor has some money in Australia and some money overseas.
Read more here: SMH