Price Discovery, Liquidity and Fraud Detection: the same old tired excuses to try and justify Shorting.
A recent article in the Age claimed that shorters were doing mug investors a favour, but I can't recall an instance where the mug investors came out in front after a short attack. Shorters seem to win on most occasions.
The original function of shorting has long since disappeared and it is now primarily a means of market manipulation.
Markets are volatile enough and the ability to profit in a declining market only ensures any decline would be greater when shorting gathers momentum. South Korea and China have put bans on short selling; hopefully they will become permanent.
Also, given most superannuation funds are invested in equities, individuals retirement income can be impacted by shorting.
Why not let markets rise and fall on the merits of the companies, not on the whims of the conmen, shonks and shysters.
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