I have watched this many, many times (as have many others on HC no doubt). ASIC and the Australian Shareholders Association should petition the Government to legislate against this type of blatant wealth destruction. Fund mangers are openly and unashamedly destroying the wealth of small investors and then double whacking them by lowering their superannuation values. Disgusting vultures.
These fund managers / scavengers / human detritus have absolutely no interest in generating business or creating wealth - none whatsoever. All they want to do do is scratch profits from the bodies of companies facing stiff headwinds and thereby obliterating the value of company shares via this ridiculous practice of shorting. If anyone can explain to me the economic value of shorting to society that would be greatly appreciated.
Sadly, they never seem to get caught out.
"Becoming a Substantial Holder" - what a joke. "Becoming a Substantial Destroyer from the Inside" is the real fact. There ought to be a new class of forms for this kind of action.
Good luck to you all - you could try and ride the wave created by the shorting filth - if you can.
Businesses failing for economic reasons is one thing - outright destruction by "fund managers" is another matter entirely.
Strong post I know - but I think shorting is a financial wrecking ball that ought to be more tightly regulated.
