Ann: AGM Presentation, page-15

We were told the same thing about the mining bust. Mining investment would slow substantially, and our hollowed out manufacturing sector wouldn't be able to cope.

If we were able to see the next area that will provide growth, this investing thing wouldn't be so difficult. It would also be a lot easier to use macroeconomics to invest (very few do that well).

The question is - if there is a downturn, do you think the company's loan book is of high enough quality to withstand it?