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17:53
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Originally posted by BobF:
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The fundamental idea of a stock exchange is a place where honest industrious men of integrity can exchange the ownership papers of companies they own parts of, that generate genuine incomes from providing products or services to others at fair prices. Their shareholding increases as they invest more in their business, and those investors increase the true value to society of their investment in it. It is a place where realistic values of companies are found through open and clear disclosure of what they do to produce their profits. If you want to own a part of such a company you agree to pay a fair and agreed price that both parties accept as being real and reasonable. It is an open bidding auction where anyone with the money can decide whether or not they are willing to pay X for Y. It transparently depends on open declarations of business progress that can be and generally are independently audited so as to establish their veracity. The share price should thus dynamically tend to fairly represent the true and actual value of the company at any point in time. This is a great idea, and one that serves every participants interests equitably and fairly, precisely because its trades and the rules of trading are equitable and fair.
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bobf .congrats for cutting through the legal huffing and puffing,and telling the way it the way it is,i doubt whether our financial masters will agree,goose and golden egg cmes to mind.
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