If the Macquarie model’s not dead, it’s surely comatose and dangling upside-down with its claws super-glued to the perch. Despite touting a glamorous 14% yield, the latest stapled infrastructure float, BrisConnections, has tanked 60% on its sharemarket debut. The chief reason is that people have twigged to the financial engineer’s lurk of the manufactured yield. … Continue reading Macquarie’s Dead Parrot Model