Of course Macquarie analysts (by the way does anyone know the history/qualifications of the analyst/s in question?) ...... could not conceivably be involved in anything scurrilous but I recall not that many years ago having "drinks ‘with a bunch of youngish brokers and some of their seniors (not Macquarie of course) who were swapping war stories and bragging (maybe exaggerating or even lying) that they were making heaps "front running" buying orders and on the other side by knowing when a fund etc was going to dump/crucify a stock, also making heaps and heaps ... at the same time crucifying an unfavoured dispensable retail client.
Unfortunately it does not appear in the short term interests of the ASX to be concerned about transparency ... nowadays even the identity of the brokers buying/selling is masked. A cynic might suggest some brokers and our self interested regulators are parasites. As an aside re the GFC... was it any wonder that the rating agents gave AAA ratings to junk when it was in their lucrative short interest to do so ? ... similar to brokers not disclosing their true motivations in order to make an immediate dollar.
ACR Price at posting:
$2.81 Sentiment: LT Buy Disclosure: Held
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