Nick, the last bit was the best “Come back ya yellow bastard and take what’s coming to you !”
Oh how we wish !!!! Your loss and thus pain must be considerable. My wife is down about $9k but of course she can write that off against a capital gain on a Qld property that we propose to sell in the next 12 months. The SMSF is also down about $9k and being in retirement mode, that loss is absolute.
I manage my own SMSF, that way any risk and loss is directly attributable to me. Wins over all have been BAP bought at $1.95, and also had wins in the last 12 months with 2 LICs, WIC and SEC.
Financial planners are great to get information over the inte4net from, but generally I think they are only planning for their own financial security. I don’t know that Geoff Wilson “supported it” but as much as I like Geoff, I think he should have acted earlier on behalf of SH of ALF, given that he must have been aware of Justin’s abjectly poor performance over a number of years. After all, Geoff has a number of successful LICs, none involved in shorting. I don’t think Justin would have seen the humour in ANYTHING !
I have the holdings for our SMSF on the market at $1.015 but have also registered with Justin’s know your customer portal. The SMSF will get the Franking credit in cash, but I think it’s a Bob either way with an slight advantage to jump thru the hoops. Pity any future investor who hasn’t done their homework and decides to “park” their money with Justin. The best view of him, will be the one in the rear vision mirror !!!!!
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