I guess if you had 2 accounts, 1 for shorting to push it down for profit, and then when at the acquired price, you use your other account to accumulate for the ride back up. I guess that works for some, but sorry, I still find it repugnant. We all have our ways. I firmly believe shorting in plague numbers like currently in the ASX, enough to damage good companies, is detrimental to the financial security of Australians.
I guess some might say, “Hey all they are doing is taking advantage of someone else who isn’t watching closely and taking the advantage” but isn’t that sort of like a thief who takes advantage of someone who isn’t watching close enough and has their wallet with cash stolen?”
To me the only difference is that taking someone’s wallet right now is illegal. Taking someone else’s investment from them through shorting is not only legal, it is protected by ASIC, some might even say it’s encouraged.
Where is the decency in that?
(20min delay)