I've been trading shares for a long, long time and I've pretty much come to the conclusion that shares are no longer the place to be.
IMO all markets are corrupt to some extent or another, but over time the share market in Australia has been corrupted the most.
Buy shares and you end up having your money competing against all sorts of players including the people supposedly working for you: the managers and BOD of the company.
They end up getting paid hundreds of thousands of dollars to run a company and get paid regardless of the results. In many cases they run the company into the ground. Or lose millions of dollars a year for years on end.
Add in 'forward statements' that turn out to be 'incorrect' to put it politely along with BOTS, darks pools, low liquidity, and the reward is no longer there.
Take a look at the price of gold, silver, and oil. How many companies in these sectors on the ASX have been able to actually make a profit over the years for shareholders at a time the price of the physical products have soared?
Very, very few. How many have raised capital, spent it, and been able to show good results? Again very few.
2013 will see me move to the commodity markets.
Are those markets corrupt? Yes, probably even more than the share markets, but at least I won't be paying some shonky manager to lose money for me.
