Blackwell International (BGI)

[Traderx]

I'm all for the democratisation of finance but this is madness, the good news is only c$300k traded today so in terms of total losses the sharesies crowd may be exposed to it could be worse.

At what point does Sharesies share some responsibility for the inevitable losses? They must be able to see the behaviour change in people when it gets on top of the "performance" chart and follow on buying occurs. Its not a sophisticated crowd.

[Baa_Baa]

At what point does Sharesies share some responsibility for the inevitable losses? They must be able to see the behaviour change in people when it gets on top of the "performance" chart and follow on buying occurs. Its not a sophisticated crowd.

Assuming it does crash, why would Sharsies have any responsibility, it's just the platform for the trades, seems irrelevant whether the users are experienced traders or not. It's like saying Direct Broking or ASB Securities should inform their users when a share is over priced? Or have I misunderstood what you're saying.

[Traderx]

Assuming it does crash, why would Sharsies have any responsibility, it's just the platform for the trades, seems irrelevant whether the users are experienced traders or not. It's like saying Direct Broking or ASB Securities should inform their users when a share is over priced? Or have I misunderstood what you're saying.

They have no clear legal responsibility agreed. But they have large quantities of new investors, they serve up lists of available investments ranked by returns/performance and then punters buy in seemingly on the strength of that information.

At what point do they ask the question - is the way we've designed our service helping or hindering our clients?