chairman and ceo presentation to cer agm, page-22

Apples,
Can't believe ASIC granted partial relief to short selling covered non financial stocks. Why only non financial, guess we all know that answer?
Much of Australia's problems have come from short selling.
A total ban would stop these attacks, Australian market is easy prey for short sellers.
If our regulators sent more time thinking about suitability of financial products, it would be a huge positive. Just because an overseas market is using some highly leveraged financial product is no reason to justify the destruction of Australian shareholders wealth.
Moving forward regulators need to clean up financial products offered & ensure our small non liquid financial market can cope with products on offer & they are appropriate for the Australian investing public.
No one should ever have been allowed short selling CNP, given investors were primarily investing in a property trust. Why should companies & trusts pay ASIC fees only to see their product attacked through lack of regulation by ASIC etc.
Hardly the clever country, so many would have us believe.
Regards
Buffett