Ann: Ceasing to be a substantial holder, page-28

@petrovski
Would really love a level playing field, but unfortunately, I don’t see our Government touching it. Our own country’s Retail and Industry Super funds are heavily into making money from shorting themselves, and seem quite proud of that fact. They say it allows another means of earning big $$ to return to their members. Then, once they have dirtied their hands by helping to destroy the SP, it gives them an opportunity to take a long position in that same company.

The Government will weigh up the pros and cons. On one hand you have just over a million small retail investors, some possibly with big SMSF balances, yet on the other hand, you have numerous Retail and Industry Super Funds with over 20 million members combined, with Trillions of $$$ tied up in one of the biggest retirement money pools in the world. A pool of money that the Government sees as reducing the long term Aged Pension liability they face now and in the future.

Who can you see winning out? It really sucks when we are just mere tiny players battling giants. I do love the idea though of at least start up protections being put in place against shorting. It must be legislated like you say @petrovski, not just to protect the company, but also the investors that help it grow.

Now and then we hear about Woolies and Coles ‘colluding’ and being anti-competitive, which our Government rightly scorns at and ASIC apparently is meant to look at. Well, I view shorting by big hedge funds in the same way. They are colluding, banding together to destroy the ability of Australian companies to grow wealth and prosper. The ASX is so small compared to the world stage, and as the old saying goes, ‘strength in numbers.’ That is why big overseas hedge funds can do what they are doing, and our own Super funds are helping them do it.

Wouldn’t it be nice for someone in our Parliament to read HC one morning and catch a glimpse of just how pissed off we all are. GLTAH. Here for the long haul.