Paul Xiradis to keep investing in Australian stock market despite slowing economy

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Ausbil founder, executive chairman and chief investment officer, Paul Xiradis, has told the Australian Financial Review (AFR) that he plans to have a few years left investing in the stock market.

Xiradis is known in the industry as “X” and has been investing in the stock market for decades as the CEO of investment management company, Ausbil, since 1997.

“It’s not only my work, it’s my hobby,” he told the AFR.

“That’s what’s going to keep me focused in the next few years. I reckon it’s going to be challenging, but I like a challenge. So, I’ll be keeping at it for many years yet.”

Xiradis is the eldest son of Greek migrants who ran several fish shops while raising their children in Sydney. He said he was “an okay student” but didn’t have a lot of time to study because he was helping out the family businesses most afternoons and weekends.

Paul Xiradis. Photo: Jane Dempster / The Australian.

“So when I left school, it was an opportunity for me to really excel and work for myself in the sense of achieving my own results.”

Xiradis worked his way up the ranks of the industry, starting out as a bank teller and experiencing almost every facet of finance – ranging from personal banking to investment property, to equities, to fixed income and broking.

“X” is now known as a “market animal” and has no plans to slow down despite the period of low growth and slowing economy he predicts for the next few years.

“You need to be very cautious about where to invest,” he told the AFR. “But that doesn’t mean there are no opportunities.”

Source: Australian Financial Review

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