I agree. The flip side is that the ASX has become a place where...

I agree. The flip side is that the ASX has become a place where retail shareholders are harvested faster than a wheat field and at what point in the past did this happen? It goes a long way back to the days of NL companies in the mining space but in the last 30 odd years since 1987 CBT triggered sharemarket crash and the next generation of technology became the platform for high speed trading, then high frequency trading, then dark pools, then shorting and compounded by people required to commit funds to superannuation and worse still SMSF's where the investment decisions are made by individuals and the easiest (and sold as the most fun) way for them to participate in ASX....it is like watching lambs to the slaughter time and time and time again.

Is PDF different? Probably as this ones come across as more naivety and then mistakes upon mistakes and then the need to cover those mistakes up....so the missteps by the Board amount to the same result from a shareholders perspective, they get fleeced. There are many other way this happens as can be seen by the various "business models" offered in the low end of the ASX. Suffice to say the big end of the ASX isn't absent of guilt either and the ASX is not a regulator any more (other than by delegated responsibility to ASIC) so it is complicit as well.

Conspiracy theory or reality? You choose.

There, I have said it. My rant is over....off to finish my coffee and go for a walk along the beach.