Eregulla Deeps, page-94

Just to add another point. This is my understanding of the advice we have received from Macca. Ever since SE2/3 results, there are some investors who were very confident that STX will be removed from the ASX200. Their strategy is to short sell the stock until the exit is official. At which point, the index funds will be looking for bids to buy their large position in a block trade which will enable the shorters to cover their shorts.

Essentially, they have played the role of the price maker (shorting it and pushing the price down) AND the price taker (buying the index fund stakes).

So if Macca has indeed been one of the shorters, then it's a triple win for them - they get paid by STX for "expert advice"... their advice would turn out to be very accurate (since they are part of the group executing that strategy) thus giving them further credibility... and they make a killing from shorting the stock.

Of course I have no concrete evidence but if this is indeed true, then Macca is far more ruthless and brutal than I'd given them credit for.

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