Jim, just focusing on this for a moment
"BOD quickly rolled over without a fight because they knew they broke the law"
Can you explain how a civilised modern society, as is Australia, with a regulatory system approximately equivalent to most if not all western societies, would ignore a company breaking the law?
I have no reason to defend the BOD. I just have an interest in rational thinking; I believe most mistakes in life are made by taking short-cuts brought on by emotion. This is an investment that went wrong. No off loading blame, simply a wrong call made by the BOD and a wrong call made by investors.
It happens, life and decision-making is imperfect due to the unknown factor. If everything was known with certainty then at a very high level there would be little to induce risk taking that produces growth.
If there is a breaking of the law then the authorities would have dealt with it. Your notion of continuous disclosure is flawed in my opinion.
I wish you well, and understand from what you post, that you are already on the road to recovery by investing in other asset classes. Losses are painful when focusing on a short time frame. For example, if over 10yrs one averages a return of 10% that is pretty good, I think. Would it matter that in the middle of that period one slipped to -50% for a period? Hope you recover in time.
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