The Bureau of Historic Losses · Counterfactual Division
What if you'd bought Macquarie in 2009?
The 'millionaires' factory' came closest to the abyss in the GFC, and entered 2009 a shadow of its boom-era self before raising capital at $27 a share that May. From that humbled, near-death base it began one of the great recoveries on the ASX.
$100 on 2009-01-01, worth today
A$1,813
As of 2026-06-12, $100 of Macquarie bought at 2009's open (A$13.37) is worth A$1,813 — 18.1×.
total return · dividends reinvested · AUD
How much would $100 of Macquarie bought in 2009 be worth today?
| You'd have put in | You'd have now | Multiple |
|---|---|---|
| A$100 | A$1,813 | 18.1× |
| A$1,000 | A$18,127 | 18.1× |
| A$10,000 | A$181,274 | 18.1× |
Lump sum on the year's first trading day, total return (dividends reinvested, splits adjusted), valued at the latest close. Past performance isn't a promise — it's a taunt.
What did Macquarie do in 2009?
Opened
A$13.37
2009-01-01
Peaked
A$27.30
2009-09-30
Bottomed
A$7.22
2009-03-01
Closed
A$22.90
2009-12-30
Levels are dividend-adjusted, so historical figures look lower than the headline price of the day — that's the total-return lens, and it's the honest one.
Would steady buying have beaten going all in?
A$91,100 deployed as $100 a week from 2009-01-01, under four temperaments — same money, different nerves.
| All in on day one | A$1.7M |
| Steady weekly buys | A$553,199 |
| Sold dips, rebought rallies | A$645,347 |
| Traded it perfectly | A$1.6M |
“Traded it perfectly” requires knowing the future. Nobody knew the future.
The same $1,000, elsewhere
$1,000 at 2009's open, each valued at the latest close. Hindsight remains undefeated.
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