TSM and FXL and TGA service a "need" in society and the fact that people buy and continue to buy demonstrates this admirably.
It's a bit rich of Steve Johnson (formerly of Intelligent Investor and a serial under-performer of Herculean proportions) to even suggest that ASIC may look at the way these companies do business whilst not making comparisions to the costs of certain credit cards and various day cash companies or even some forms of bank leasing.
Johnson might well remember the fee structure of Timbercorp a company he bet his reputation on - and lost!
As far as I am concerned capitalism is alive and well and if you have a market, then you have the right to sell into it.
TSM Price at posting:
29.5¢ Sentiment: Hold Disclosure: Held
