Ann: Becoming a substantial holder, page-47

  1. 1,340 Posts.
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    I don't have much energy to play this game. But I'll do my best with the little effort that i think this elite/illuminati conspiracy deserves

    Vanguard and black rock etc: what they do is passive, not active. They aren't stock pickers: they don't have analysts covering stocks, and they don't need to: The service they provide is to provide index funds to invest in. You can go read the PDS of the products on their website- with NONE of them trying to beat a particular benchmark (which would be an incentive to "know more" than the rest).

    They hold large amounts of stocks in these companies (which is what raises eyebrows of the conspiracy theorists e.g. that they run the world etc), but ultimately are really held by the people who have invested in their products (ETF units). They aren't "actively" trading the stocks they are invested in, and you will find that the weight of each stock in each index is exactly as laid out in the PDS of each product (some variation does exist, known as tracking error, but this is negligible).

    If you are just putting it together: basically all they do is have lots of stock for the purposes of bundling them up so people can invest in them depending on their objective (e.g. track the S&P 300). And all they need to do is charge management fees on their large volume (no incentive fees)- they win most of the business due to economies of scale and smaller fees than their competitors (and do other things such as, yes, lending out the stock to those willing to borrow, but it's not because they are short it's just extra income for them to reduce their fees and remain competitive etc).

    hopefully that gives you some clue that there aren't people who actively have more knowledge about mesoblast than the rest of us (or at least that is or can be acted upon in anyway practical way: im sure there are some clever and connected cookies in there who could just so have happened to have heard some things, but they wouldn't have any incentive or need to act upon this information, and in fact would just be watching their products take a hit where MSB are bundled into them).
    Last edited by AnotherOneWon: 21/11/24
 
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