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clock Created with Sketch. 30/11/22
16:38
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Originally posted by dunnomuch:
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probably also worth bearing in mind that unless you deal directly with an institutional trading desk then you are a “retail” investor. Section 708 details what’s required to be classified as “sophisticated” by your bank or accountant however the big brokers deal with far larger sums so although you can be listed as Sophisticated by a broker they will still keep your account at a retail level. Wholesale transactions are the basis of derivatives and generally speaking lines of $250k are a minimum level. If you’re moving $1m lines of BHP etc in and out of structured positions with a big broker like Citi or Credit Suisse then you’re probably an actual wholesale investor. At that level the way tax plays out and other considerations around liquidity etc are such that you just would not waste your time trying to muck around with mining specs.
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it’s very true but at the end of the day, the geology doesn’t care who is trading the stock or running silly little algorithms designed to trick mums and dads out of their money.
