for those that are interested, this is the reason why BOA have...

for those that are interested, this is the reason why BOA have released all these substantial holding changes.

http://www.asic.gov.au/asic/pdflib.nsf/LookupByFileName/rg222-issued-15-April-2011.pdf/$file/rg222-issued-15-April-2011.pdf

From what i am reading BOA obviously have achieved a number of substantial holdings (ie over 5%) by the simple fact of having a component of borrowed shares within their holding.

If they didn't have these borrowed shares then they wouldn't be a substantial holder.

Borrowed shares are used for shorting purposes, so one week you see BOA becoming a sub holder and you feel pretty good, only to see the following week they are no longer a substantial holder (ie they have closed the shorts and returned the borrowed stock).

Based on the number of stocks that got hit with these notices and they appeared to be mainly BOA, then it shows the rampant shorting BOA has conducted across many stocks.

So they build a position, then as the price gets away they borrow stock and short it to bring the price back down or they are simply shorting with no intent of being a long holder.

BOA screwed a America, now appear to be doing the same here.