The owners of Crikey, through John Addis – one of the four nominated on the website – have launched an unqualified attack on afraccess, an online information product launched recently by The Australian Financial Review. On the evidence, it appears the sole purpose was to promote the business interests of Crikey owners.

Crikey asserts that it aims to be fair, open, honest and transparent. These have not been notable characteristics of Crikey to date. Even so, the Addis blast came with no mention of the blatantly obvious fact that Eric Beecher – another of the four – is an investor in the Eureka Report. Nor is Addis required to acknowledge that he was founder of The Intelligent Investor, another online investor product.

“Eureka Report, a joint venture between Alan Kohler, Eric Beecher, Mark Carnegie and John Wylie, is a continuous, multimedia, online publication for investors in self-managed super funds, property, retail managed funds, direct shares and fixed interest securities. Its mission is to inform, advise, guide and educate independent investors in a timely, reliable and cost-effective way. ” – From The Eureka Report website

“For our 200th issue, one of our founders, John Addis, gives his reflections on the past eight years and comments on how the new owners are shaping up. Unlike stuffed turkeys, your correspondent has only ever come across one stuffed lamb: in a Korean travel agents in Bondi Junction. Woolly and glassy eyed, it was a gift intended for one of the agency’s favoured customers. Sadly, events intervened. The 1998 Asian crisis provoked a slump in Korean tourists, the receivers were called in and the lamb never met its prospective future owner.

Following in the receivers’ wake were Robert Carey, the original editor of the The Intelligent Investor, and myself, angling for some cheap office furniture. It was an inauspicious start for a small financial publishing business, but for $2,400 we secured a few desks, a couple of computers, a phone system and a defunct photocopier. The aforementioned stuffed lamb also found a home.” – From the website of Intelligent Investor

Peter Fray

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