Are they mining the stock exchange?
| C.R.O.S.S.R.O.A.D.S |
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| Jonathan De la Cruz |
There was a time when mining issues were being listed like crazy in major stock exchanges, including the Australian and Toronto Stock Exchanges, that some investment funds representing public employees and pedigreed private equity firms started a quiet investigation on the whys and wherefores of such a seeming gold rush. It turned out after some months of inquiry that a number of the issues were really for real, meaning, they had intrinsic value and represented solid businesses upon which hard-earned monies can really be invested. But a lot turned out to be speculative ones which cultivated the “greed for the fast and big bucks,” as one analyst called it, of many investors. Which is why these analysts called the promoters of these issues “miners” of a different kind — they were mining the stock exchange. That appellation has since stuck, so now every stock exchange of record has set up some kind of a vetting system to determine whether the exchange is being unduly used by these so-called “miners” to the detriment of thousands of innocent investors and, of course, the public whose confidence in the market has to be responsibly reinforced if these exchanges’ operations are to be appreciated at all..... MORE
Source: The Daily Tribune
URL: http://www.tribuneonline.org/commentary/20110328com4.html
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