That reminds me. Is the VW T Roc (ICE of course) a half decent car ?By the way, the VW boss gave a fire speech to his 2000 managers today. The existence of the brand is at stake. The EV sales figures have plummeted dramatically.
Yes the car is ok if maybe a bit boring but that's because of the VW brand. I do not really like them. The T Roc is a reasonable car and rarely breaks down even if that does not matter to you. October is already a bit late in the year otherwise I would choose a convertible/cabriolet.That reminds me. Is the VW T Roc (ICE of course) a half decent car ?
Mrs Monkey and I are hiring one in October from La Spezia (after staying in Riomaggiore, Cinque Terre) to Pavia (just south of Milan) to visit some friends and staying with them for some culinary education and a few day trips. Last time they cooked us some horse with polenta........................did we like it ??????.................................Mmmmmmmmmm......................................maybe next time they can do us pizza
Anyway the T Roc ?????.......... I can change the car if I want
Yes I looked at going north back to Genoa for a convertible/cabriolet but then had a think about the weather and decided to stick to La Spezia over the hill from Riomaggiore (no convertibles available there)Yes the car is ok if maybe a bit boring but that's because of the VW brand. I do not really like them. The T Roc is a reasonable car and rarely breaks down even if that does not matter to you. October is already a bit late in the year otherwise I would choose a convertible/cabriolet.
It is also more rainy. But this year everything will probably be different because of the global weather situation.Yes I looked at going north back to Genoa for a convertible/cabriolet but then had a think about the weather and decided to stick to La Spezia over the hill from Riomaggiore (no convertibles available there)
Well if it's a bit dry then you will be just like Australia as after having just had 2 years of rain deluges courtesy of a Triple La Nina weather system we are now entering the opposite El Nino weather system which means low rain/drought conditions will now prevail into at least early next year just as it has done for thousands of years.It is also more rainy. But this year everything will probably be different because of the global weather situation.
That's what I mean. Today we commemorate the flood victims during the flood of the century and the incredible rain floods that went down here in my region and swept away entire villages or small towns. The next morning I drove along the Rhine and what I saw there I will never forget, brown, sluggish, full of trees and everything that was carried away by the floods. Everyone looked affected at this picture, spooky quiet and just creepy. Some bodies have found in the North Sea and others not at all.Well if it's a bit dry then you will be just like Australia as after having just had 2 years of rain deluges courtesy of a Triple La Nina weather system we are now entering the opposite El Nino weather system which means low rain/drought conditions will now prevail into at least early next year just as it has done for thousands of years.
But it also means we are going to have great beach and surf weather throughout our Spring and Summer
The system is even shittier than I thought. So shares are sold that belong neither to the shorters nor to the lender/broker. That the broker is allowed to lend something that he does not own is sick.I dont think that is necessary. When a dividend is payed, any shareholder is receiving that dividend. And it has nothing to do with how long you hold stock. You can buy a stock today, get payed a dividend tomorrow and sell the stock the next day. That is why the stock price includes the dividend before the payout and it drops in value on the day of the payout to reflect the share value after the payout. So the scheme I layed out above doesnt net you any profit.
Now, this works for all shareholders. Lets put labels on it because its easier.
Investor A is a shareholder of some stock X, say n shares. A lends this stock to shortseller B, who then sells the shares to investor C. Now both A and C are shareholders, even though A lend the shares out, he is still owner of the shares, which makes him receive the dividend. That is because A might not even know he lend out these shares. For example A has a portfolio at some broker. the broker lends out the shares (without giving A any form of fee for it mind you). So A rightfully thinks he has shares of X. But C doesnt know he bought shares that previously went through some short seller either. C also thinks he has viable shares of company X and will receive his dividend. Now both A and C have n shares and need to receive dividind for them. Who is paying them as the company X only pays dividend to one of them? In this scenario, the short seller B will need to pay C the divident of company X. Making the short a HUGELY unprofitable business.
So what will happen if a dividend is payed out? The short sellers are forced to close their trade before or they need to cough up the dividend for the shares they shorted.
That is sick. But you are right. Someone at BRN was exactly annoyed that his broker does something like that. I seem to remember that. Sick shit. Please NFT and private wallet.Your shares are probably lend out too
The fact that brokers can lend out our shares without our permission sickens me. And the fact that they receive financial reward for doing so should be illegal, IMHO.
I consider this act as similar to a real estate agent renting out, and even selling, your house without your permission and without you knowing it. Then while you are away, say at work, or on holidays, other people come in and have full rights to use your house as they please and can even rent it out and on-sell it if they want.
Short sellers get away with this with shares as shares are perceived as intangible assets where as in fact they are as real as the company you hold shares in.
Then there’s naked short selling where the short seller sells something that doesn’t even exist.
In all other instances that is fraud and is illegal. It should be the same for shares!
Now consider the case of share owners who knowingly lend out their shares, and they receive a financial benefit for this. I am 100% with @cosors on this and believe these investors should have their rights to dividends and voting rescinded and these should transfer to the new share owner.
I accept the practice of short selling via put options—where you buy THE RIGHT to sell something that you may or may not own. I accept this as if the right is exercised you necessarily have to front up the real commodity to actually sell it. I vehemently disagree with actually selling something you don’t own.
LOL...................the Good Food section of the SMH is in there every day to some degree. It is one of the few areas not yet Pay walled although they were considering it a few months ago just not yet implemented I believe.I like this newspaper so far. Can you confirm that or are there better or more neutral ones? Politics interests me less. The good food part is interesting!
Thanks for your infos!LOL...................the Good Food section of the SMH is in there every day to some degree. It is one of the few areas not yet Pay walled although they were considering it a few months ago just not yet implemented I believe.
Just on the Short Selling my understanding is that if you are a personal shareholder (including via your Self Managed Super Fund "SMSF" or your own Company or Trust) then they cannot be short sold as they are registered directly via the CHESS system here (that probably means little to you @Semmel and @cosors) but it's a central register updated by the ASX using information from brokers and the various share registry companies (for TLG it's Automic Group). If that is not true can someone correct me
I own TLG via my own SMSF so I get a CHESS statement every 30 June plus whenever I buy or sell. So I have a CHESS statement for each company I hold in my SMSF. CHESS = Clearing House Electronic Subregister System
The big Super Funds like those in the article you posted own the shares on behalf of millions of members so a member does not directly own the shares he or she just owns a percentage of the Super Fund's entire share portfolio of hundreds of billions of dollars. That is what the article is discussing
Anyway if I am wrong regarding not being able to short sell the CHESS system could someone correct me please as I have read this more than once in various articles
I guess you guys bought on one of the European exchanges so your holdings would be held by a Nominee company such as you would see in the TLG Top 20.
If so then Yes they are probably lending your shares out
That is my understanding. I'm not sure if super funds are doing it but the big fund managers in the top 20 are. Most if not all super funds use the top 20 to buy/sell and are the registered holder. Aus Super use JPMorgan who might loan the shares to shorters or short themselves.LOL...................the Good Food section of the SMH is in there every day to some degree. It is one of the few areas not yet Pay walled although they were considering it a few months ago just not yet implemented I believe.
Just on the Short Selling my understanding is that if you are a personal shareholder (including via your Self Managed Super Fund "SMSF" or your own Company or Trust) then they cannot be short sold as they are registered directly via the CHESS system here (that probably means little to you @Semmel and @cosors) but it's a central register updated by the ASX using information from brokers and the various share registry companies (for TLG it's Automic Group). If that is not true can someone correct me
I own TLG via my own SMSF so I get a CHESS statement every 30 June plus whenever I buy or sell. So I have a CHESS statement for each company I hold in my SMSF. CHESS = Clearing House Electronic Subregister System
The big Super Funds like those in the article you posted own the shares on behalf of millions of members so a member does not directly own the shares he or she just owns a percentage of the Super Fund's entire share portfolio of hundreds of billions of dollars. That is what the article is discussing
Anyway if I am wrong regarding not being able to short sell the CHESS system could someone correct me please as I have read this more than once in various articles
I guess you guys bought on one of the European exchanges so your holdings would be held by a Nominee company such as you would see in the TLG Top 20.
If so then Yes they are probably lending your shares out