@robert.dinh,
Hot Copper does not have an AFSL and must comply with
ASIC's Regulatory Guide 162.
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Source)
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Observe the following exceprts from RG162:
"RG 162.7 However, we will
permit a limited type of IDS to operate without a licence if the operator complies with our guidelines. These guidelines require that:
- the IDS is operated to enable people who are not securities market professionals to exchange information that may include opinions and advice about securities;
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RG 162.8 “…some people operate IDS not so much to allow them to give advice as to provide an electronic meeting place for investors
who are not securities industry professionals to discuss their experiences as investors.
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RG 162.41 (b)
no-one is permitted to make postings as a licensed investment adviser, or as a representative of a licensed adviser;
(d)
people making postings are individually responsible for the accuracy and authenticity of their postings;
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RG162.52
“… IDS operated within these guidelines are intended solely
as a facility for non-professionals to exchange information, advice and opinions about securities …”
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Robert, if you really do work for a money-manager professionally (as you have claimed), by posting on Hot Copper you're in breach of RG162 and by definition Hot Copper is also in breach of
RG162.
Furthermore, I'm pretty unimpressed by your posts:
On the 27th of February you said the following:
"It won't be a bad news, my gut feeling has been telling me that it won't be. It will be on and around with the expectation that we have had for a long time. And I am now speaking with sentiment and I hate it, but I can't help but to feel like a David versing Goliath situation right now, we all know that SGH is not that great and needs some fixing, but we know that it is still undervalued because people oversold it,
that's why we bought it right? So let's stick with our thesis here, and wait it out." (
Source)
Today on Tuesday March 1 2016 you said:
I just want to address to you all that I have close our position with Slater and Gordon as of today morning, so it would be
advisable that you should too ... We did not end up losing anything in our position, it is a shameful act but I have to
short the stock in order to cover our losses..." (
Source)
And:
"Yes as I figured out a way to exit without loss, so that was my luck coin ..." (
Source)
After leading everyone up the garden path with your previous "analysis", what makes you think that you should still be giving advice (even if it wasn't illegal breaching RG162!?) And after a lot of people have lost a lot of money, do you not think it to be poor taste to crow about not losing any money?! Poor form mate.
I don't own any SGH shares and I've never held any position in them. I've been watching this saga from the sidelines though and have been very unimpressed with your "analysis". I'm going to report your posts to Hot Copper for breaching RG162.
