8 min read

Yowie and the barbarian at the gate

Yowie and the barbarian at the gate
Credit: James Davies

The way Nicholas Bolton kept his brown hair messy and long around his ears was more junkie rocker than corporate raider, more Carl Barat than Carl Icahn. Although, Bolton was clad formally in a light grey suit with a black tie over a white shirt, he maintained a casual air because his tie was loose and the small, asymmetrical knot did not cover his top button (which is not done up). Bolton’s smile is both smug and menacing.

While Bolton may not fit the money manager archetype, at just 26 years old, he demonstrated through his investment in BrisConnections that he was both clever and wily enough to generate a return. BrisConnections was a public-private partnership created to deliver a tunnel linking the Brisbane CBD to the airport. The project was an ASX listed unit trust with an IPO price of $1 and an obligation to contribute two further instalments of $1 each. After challenges with the project, the value of the units fell to 0.1 cents – the lowest possible price on the ASX. Retail investors dumped units to avoid having to contribute further instalments.

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