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As always, some interesting commentary from Clime in today's note: From afar it is disturbing to note that the Australian share market looks like a gigantic...
As always, some interesting commentary from Clime in today's note: From afar it is disturbing to note that the Australian share market looks like a gigantic hedge fund. Net long, net short or market neutral - it doesn't matter. The ability to purchase or short 60% of our market index through a mere ten or so stocks has become a major obstacle for value-based investors and is an embarrassment to this country. The slogan too big to fail adequately describes the position of our major seven public companies (four banks, two resource stocks and a telco) which nearly every superannuation member is excessively exposed to. Read more: (VIEW LINK)
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Tom McKay is the Co-Founder and Managing Director of Livewire. Tom's passionate about democratising access to high quality investment ideas and insights, so all investors can make more informed and successful investment decisions.
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