Just recently the Australian securities watchdog, ASIC, nailed some poor schmuck for sending out a note to his clients basically saying that Macquarie Bank was a not only a dog of a stock, but that it was a dog with fleas. Funny how no one seemed to get in trouble for “rumourtrage” when we were firmly in the grips of a bull market…
Until something is proven to be true or false, it remains a rumour, or mere opinion. If we waited until we new for sure we were 100% correct on something before we traded we would never ever place any trades!
Pretty weak reflection on Australia’s so called corporate watchdog when they can only nail some broker as opposed to all those hedge funds that were meant to be behind the burying of financial stocks leading to restrictions on shorting. Maybe the financial stocks that were hammered so hard were hammered because they were crap stocks and their business model was a flimsy house of cards, not due to some giant conspiracy instigated by evil hedge funds.
