"You also have to be a little wary about trading in spec stocks as the gov does not like that too much"
yes, trading in speculative stocks is a no no. Also, more generally, short term stock tradings are a no no too. Super funds are supposed to invest for the long term.
If your self-managed super fund is considered to be not genuine super fund, there can be quite serious financial tax penalty. The fund will lose its tax concessions, for a start.
manipulation, page-38
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