That is what I meant, too.
Unfortunately, and this is MORE My Opinion than anything I can personally back up with facts.... so it is just opinion, it would
seem that the "golden rule" applies to all aspects of our society.
"He who has the gold, rules."
BIG BIG firms like (you pick one) make markets in LOTS of different
stocks. They have connections, and/or own posts on the options floor.
It is OK for them to put a run on a stock to take care of their options affiliate. But if the independent Market makers get together
and try to block their move..::BOOM:::! Violation! (This is an extreme
example... granted.) My point being... yeah, I would lay odds there
has been quiet accumulation for big customers. Mutual funds are one
of them.
There is enough blame for everyone in this. Many companies trade
that, IMO, should not. They are NOT stocks! The market maker /underwriter that brought them out did NOT do so to preserve the capitalist system or help a small company succeed or any of that other crap. They did it because the check for their fees cleared. Period.
Then, they pressure their brokers to tout these worthless things.
On the phone, on AOL, on the net, where ever. People get burned, they
mis-trust the entire industry.
Big firms abuse the system. SOES bandits abuse the system.
Believe me, sir. Being a market maker is not the piece of cake a lot
of folks think it is. Heck, anyone with $250k can become one. If it was a free lunch, I'd have gotten in line. Trouble is, sometimes your
lunch is served in a body orifice not normally associated with taking
IN food.
Now, the SEC will be in charge of the system. Print this out...
print out my e-mail. Mark my words. IN 5 years the majority of capital
formation in this country will cease to exist.
E-mail me in 5. We can talk fondly of the good old days.
I am climbing down, & putting my soap box back in the closet.
Doug |
