Bell Potter downgrade 23 November 2015, page-40

"They can use shorting as a device to accumulate and it's very easy to disguise the ultimate beneficial holder of a stock. This much has even been admitted by our resident expert."

At the risk of sounding presumptuous, I assume that the reference to "resident expert" is an ironic one, and that this comment is directed at me.

In which case - just for absolute clarity - I never "admitted" that shorting is a "device to accumulate", and no matter how often you repeat this little lie (and you repeat it often), it will remain just that: an untruth.

What I did indeed say, however, is that it is easy to disguise beneficial ownership of stock. As some institutional investors - who you have lauded as faithful, long-term shareholders - have been shown, in the company's IPO documentation, to have been doing by lending their stock out for short-selling purposes, while the market would have been none the wiser had it not been for IPO disclosure requirements.

But, at any rate, why this occupies so much of your energy is beyond me.

For it has no bearing whatsoever on the ultimate fundamental value of the business.

Yet you could have composed a series of epic tomes with all the time and effort you've instead wasted conspiring about things you'll never be able to know, let alone be able to control or even influence.