opes demise exposes regulators, page-19

I've read this whole thread - top to bottom - and only one thing sticks in my mind...

"a 67-year old client of Opes who had lost his life savings. He was contemplating ending it all, he said. He was in tears. It would be too late to make enough money back for him and his family to retire on, let alone live on, now the years were running out."

Safer under the mattress? In this instance - YES!
Damages to be awarded to clients - YES!
People stating - 'it's their own fault - NOT APPROPRIATE!

T4P - Indeed - it is less riskier to convert cash to shares at this point. I didn't bother back in Oct when I wrote to IOOF (my fund) and saw my share fund decrease by 20%... not worried - young - it'll come back - But for our 67 year old colleague - this is just devastating!

IPOD