Hi yes BEAR is ASX Beta fund. It is a simple way for a person to short the market without fancy accounts etc. There are similar funds for currency etc. The type of stock on ASX is a market maker type so VERY liquid (except when large swings in market when the market maker averages spread further). The spreads are usually small. I have recommended it to my sisters daughter and her partner as a way to put some money into the market. they have only sold and bought once since Dec (selling at $19.10 and buying back at $18.35). I use it for my wifes money instead of getting interest in the bank (ie money in saver account) to "play the market" have been lucky getting in and out since Oct between $18 and $19.30 instead of interest in the bank. It doesn't move much but will if the market tanks (= $22 for ASX 4400).