I totally agree with you Goldy, what you have described has...

I totally agree with you Goldy, what you have described has happened to me in other stocks.

I currently hold a small position in an ASX listed stock where I have discovered the CEO/MD to be a fraudster and liar. I was able to get access to the criminal records of a state in the USA.

But even when you learn things like this, and have evidence, you can't tell everyone, for fear of being sued. The system protects the criminal. And not only that, the CEO/MD would have their legal fees paid against you with your own money, and the money of other shareholders - it sucks alright, and that is too polite a word for it.

Retail investors on the ASX are at the bottom of the pile, and if anyone loses it is us. And nobody cares, least of all our politicians.

I recently sent a detailed document on the legal theft by High Frequency Trading (HFT) on the ASX, to all federal politicians, but guess what, I got thank you's from their office staff who said they would pass on my concerns to the politician. So it was screened out, even by the federal independents who are kicking up about the pokies.

New HFT algorithms are trading in pico-seconds, so you do not stand a chance. The ASX has also given these brokers their own computers at ASX headquarters, through which all buy and sell bids must pass before they are listed. So the brokers can get in before or after your bid, let it pass, or trump it. We literally do not stand a chance.

Even Charlie Aitken of Bell Potters has said that within 2 years they will not be trading on the open ASX. Bell Potters will do ALL of their trades through "Dark Pools", essentially broker-to-broker transactions outside the bourse. The only people trading on the ASX will be those losing money to the HFT algorithms.

There seems to be a substantial number of unsavoury characters with dubious reputations and histories now running ASX listed small cap companies. All prior criminal records should be disclosed to the public, but directors continue to be protected, while at the same time awarding themselves enormous bonuses with retail investor's money.

It is a mug's game mate. I have made 5 to 10 times the profits by investing in property, rather than in small cap companies listed on the ASX. KMC may tank, but I am still getting $1,000 a week from owning investment properties. No matter what anyone says, you still can not beat property investment.

I hope KMC recovers for us all, but it is just a shame that we have to go through so much pain and stress, even just to break even (if that ever happens).

Gw