MGT magnetite mines limited.

Citicorp shown above is just a Nominees account, people commonly...

  1. 5,844 Posts.
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    Citicorp shown above is just a Nominees account, people commonly mistake the nominees accounts as being the same entity (Citi) as the one who is writing the research - they're not. For example, just yesterday Citi put out a bearish note on jewellery retailer Lovisa. Now check the register - Citicorp Nominees are the fourth largest holder of Lovisa shares, with 10.8%. Doesn't fit the narrative you're suggesting though, does it?

    You'll see Nominee accounts all over most holdings, because many online brokers use them, i.e. you buy through XYZ online broker but when the broker actually buys those shares they sit within a nominees account. However retail investors see these apparently 'big' investment company names on their sh*tco register (like Citicorp, JP Morgan, HSBC etc) and think "look, they wouldn't be involved if this didn't have huge potential...!" and completely misunderstand the very boring mechanics. Seen it many times and will see it again.

 
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8.6¢
Change
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Mkt cap ! $10.53M
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