This linked article portrayed the smart money that invested in...

This linked article portrayed the smart money that invested in last year's recap as dumb.

But I still question whether what we're seeing is all there is or we're simply seeing a lot of smoke screens. For example Lazard is supposedly locked in an escrow whereby they can't sell their shares. But was there any clause to prohibit them from short selling (say maybe via an offshore entity)? Not saying they did short, because really I don't know, but this is one of many questions in my mind. I also wonder whether any of the large investors that 'chipped' in to the recap last year short sold HST beforehand. If any of them did, then the recap could be used to cover their shorts. I hope ASIC delves deep into any possibility of inside trading.

Are these smart money really as dumb as they now appear to be, just like the rest of us? Or are they a lot smarter than anyone could perceive.

http://www.theaustralian.com.au/business/opinion/the-collapse-of-hastie-shows-smart-money-can-be-dumb/story-e6frg9io-1226373024829