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Harvey Norman’s Billionaire Boss Says Amazon is a Parasite – Is He Right?

by Kent Kwan, March 2, 2017August 3, 2018

Harvey Norman & Amazon

Gerry Harvey, the billionaire chairman of retailer Harvey Norman, was recently reported by several newspapers to have made some highly negative comments about the giant online retailer Amazon. This coincides with Amazon’s upcoming local launch in Australia.

The following information does not take into account your personal objectives, financial situation or needs. You should consider if the relevant investment is appropriate having regard to your own objectives, financial situation and needs.

At the time of writing, two of our managed funds are invested in Amazon. We are always interested in opposing views to an investment because it helps to identify potential risks we may have missed. However, from an investment perspective, we always rely on facts rather than general statements of opinion. With that in mind, let’s fact check some of Gerry Harvey’s statements on Amazon as reported in the press.

To find out whether Amazon “contributes virtually nothing to society” and if “They have spent their life sending small business and big business broke”, Click Here for the full article. Not already an AtlasTrend member? Sign Up For Free to access this article and more investing ideas.

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