Loading ...Capital is flowing to where it feels it’s needed, where the best return is. Why impede it? Should he also ban mutual funds from buying Apple stock because they have made it too expensive for the ordinary Joe? Or ban foreign central banks from hoarding gold?
Pension funds in Oz have bid up the stock market so that it is overvalued, too expensive for anyone. Should the govt. tell the AUD4.5tn industry to push the market, and the value of people’s pensions down, by selling? Is Blackrock not a part of some people’s retirement funds in the US, and have their retirement savings not taken a hit with the 9% drop in Blackrock’s share price?