More than 20 years ago, a young Australian investor bought a £50,000 house in Sydney, bought a house in Melbourne and bought a lot of land.
The investment paid off, and Mr Anderson was rewarded with the wealth of a multimillion-dollar property portfolio.
It is a property portfolio that today he still owns with his wife and two children.
But Mr Anderson’s career as an investor has been hit by the recession and the recent downturn in the Australian stock market.
So far, he has lost more than $30 million, most of it in value.
“I’ve lost $2 million,” he said.
“It’s a huge loss for me.
I’m not making any money.
I have to make up the difference.”
Mr Anderson said he was not sure what he could do differently to help his business, which is based in the city of Perth, in the downturn.
“If it’s something I’m going to continue to invest in, then it’s a good investment to make,” he told the ABC.
“The main thing is that it’s in Perth and we’re trying to maintain a good balance of local and international growth.”
He said there were no immediate plans for a sale of his business but that he did think he could benefit from a return to the stock market and a return on the capital investment he made to start his business.
“There’s nothing left to sell,” he explained.
“In my opinion, it’s better to be doing something else than investing in a business that I love.”
That’s why I’m here to start this business.
“Topics:business-economics-and-finance,industry,business-management,australiaContact Melissa AikinsMore stories from Australia