Broke miner Nathan Tinkler 'a schizo', says Gerry Harvey

BILLIONAIRE retailer Gerry Harvey had described failed mining magnate Nathan Tinkler a "schizo" after he ignored the thoroughbred trainer's advice on buying horses.

Mr Harvey told a Sky Sports Radio interview this week how Mr Tinkler approached him at the height of his resources success to ask his advice on joining the horse racing game.

Mr Harvey told his younger counterpart to "have a dabble" to test the waters.

Mr Tinkler then went to horse sales, spending $10 million or $20 million at events, Mr Harvey said.

"Suddenly he's gone to the Inglis Magic Millions in New Zealand and spent $50 million in one hit -- noone's ever done that," he said.

"He must have thought I was the world's greatest dickhead.

"Whatever I told him, he did the opposite."

Mr Tinkler was declared bankrupt this week after failing to keep up with payments on his private jet.

He was the face of Australia's mining boom -- the man who put a $1m deposit on a struggling coal mine which would deliver profits of $442 million within 18 months.

In the same interview, Mr Harvey told Sky's Andrew Bensley that part of Mr Tinkler's problems stemmed from having a "split personality".

"There's something in his character where he has to rubbish everyone he knows."

He retold a story of chatting to Mr Tinkler on a Gold Coast golf course and telling him, "It's a shame because you're a schizo".

"I said, 'Mate, you can be such a nice person, I've seen you talk to people, they all like you'," he told Mr Tinkler.

"But then the way you behave and what you say, they all hate you."

Mr Harvey said he believed Mr Tinkler still expected to return to his former wealth.

"I hope he does for his sake but I don't like his chances," Mr Harvey said.