@Phitte
The bottom line and message, which I think you are clearly missing. The responses in this thread are not directly against the act of shorting stocks with the exception of naked short selling. However, we are against the erosion of superannuation erosion via the practice stated in the report. We are forced to put our 10% annual contribution for the stated scenario to happen is unacceptable. This in future will likely increase to 12-17.5%, even more ammo for insto's to screw the everyday investor with, and as
@FlashFish stated, we can do nothing about and ASIC turns a blind eye. Therefore, how is acceptable that a 16 year old Macca's worker who satisfies said criteria for compulsory super contributions.
- earn at least $450 before tax each month and
- work more than 30 hours in a week
Is forced to contribute now 10% annually to a superfund that partakes in said practices, and in term erodes the wealth over the years if they don't get lucky riding a few booms and picking a few winners. Tell me how this is not f*cked up? It's no wonder the majority of superfunds have such pi$$ poor returns and yet they are still allowed to partake in such practices. They have enough issues making returns north of 7%, let alone allowed to loan shares without consent of the beneficiaries in practices to further erode these subpar gains.
Then they use shares bought by Australian's money to hose everyday investors, just like this current Lithium attack. Ok, most strong hands will hold, but how many people have already sold out only for the price to recover because of the fear created from the manipulation? $ORE (right now) is an example, that if you sold out @ 6.38, you'd most likely be kicking yourself.
