Take 2I think that I understand where you are coming from, the 708’s are the clever ones and retail investors (punters) supply the fodder for the 708’s!
Quote - “If you’re lucky enough to meet the criteria the Act assumes you are much wiser than the rest in scrutinizing offers of securities or other financial products, so the requirement for capital seekers to issue you a disclosure document (i.e. prospectus) is removed. Common sense will tell you the less disclosure, the greater the risk.”
http://www.urbaninvestor.com.au/single-post/2014/12/18/So-now-you’re-a-708-investor-–-Big-Deal
