Having been in the markets since the 90's, I have seen and experienced much on the boards - so to speak. Some good, some bad and some horrendous.
I have contacted the Share holders association, and discovered they are more geared to making money out of membership and courses than representing retail investors who come in many shapes and sizes. They do a very good job at this aspect however they only "monitor" companies in the ASX200 and from my talks don't really represent mum and dad retail investors.
I feel we are at a point where retail investors need to have a genuine VOICE, an advocacy group given the number of Australian individuals that have investments in the ASX or other exchanges.
Some facts: - 9 million Australians hold investments outside of their home and super accounts - Of those, 6.6 million hold listed investments - 23% have held their accounts for less than 2 years - 900 thousand Australians plan to begin investing in the next 12 months
As a starting point, I believe an advocacy group should look to several issues but not limited to the ones listed. Happy for other thoughts:
- Concept of a level playing field - Policing of Listing Rule 3.2 - Overseas groups using the Australian market to raise capitol in AU$ that then disappear through failed businesses. (indeed the same issue for locals) - Market manipulation in its various forms - An attempt to protect through rules new investors. This point is especially pertinent given the share market offers the only real place for smaller investors to make money these days and many people as noted by the ASX are getting involved.
I have many more thoughts ranging from HFT to fake disclosure by anonymous players but will stop here as a starting point.
QUESTIONS 1. Do we need a genuine independent voice for the people in share investment? 2. What shape should this take? 3. What would you like to see this group stand for?
These are just some thoughts to reopen this discussion in a different direction. I might start another discussion thread on the same conversation...if anyone is interested.
