Forum Archive Index - December 2000

[Derek <dkw@paradise.net.nz>]

I beg to differ.

I don't think that the function of a stockmarket is to allocate capital at
all, it is just a marketplace, a place of exchange. It is the individuals
participating in the marketplace (like myself) who decide where to allocate
their capital.

Therefore if the stockmarket has failed investors it is because they have
failed themselves. If the companies involved have squandered shareholders
money then it is due to the lack of deligence on the part of the
shareholders for holding them to account and also due to the incompetence
of company management. The market itself is no more to blame than a
flea-market is for when a stall-keeper sells a customer a dud product.

My regards,
Derek





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