under $50 million for any country on record in 2017
A function perhaps of the fact that only 700/2200 listed companies make a profit. The rest have to have a capital raising every year just to pay their director’s salaries. This is a chart from the Cadence Capital website (they have an LIC – code CDM – it has returned 15.5% per annum for the last 12 years). This chart shows part of their investment philosophy which says that they will only invest in profitable companies and that there are only about 700 of them out of over 2000 Australian stocks. Globally there are 47,500 stocks and 14,250 made a profit last year. The rest have to find their money from somewhere.