Interesting reading Lest. Makes me feel like an even smaller minnow in a big pond.
The more I understand the lack of ethics in trading the more I can see why the financial crisis happened. With technology being used to the nth degree just to get the edge will only bring disaster again.
I am not against ppl making money and the response to me will be 'if you can't stand the heat .........'. I am just talking about principles and a lot of people lost money in the last crisis, some out of their control in super funds.
If everybody were to use the same principles/software then the market would implode. Like pyramid selling the bubble is bound to burts at some time - as we can see with indivdual small caps on a daily basis. All us small fry can do is be aware of it and establish strategies not to be caught.
One thing though the market will always come back into balance - but their will always be bodies on the way.
The only saving grace is to invest in stocks with sound fundamentals to lessen the shock of such practices. I think MEO has the fundamentals and is weathering the storm well at the moment.
MEO Price at posting:
63.0¢ Sentiment: LT Buy Disclosure: Held
