Short-sighted stock markets

peeterpaul@motskula.net (Peeter P. Mõtsküla) — Sat, 29 Apr 2006 00:00:00 +0000

Stock markets were once meant to allow the bright meet the rich. By bringing together people who had bright ideas and no or little money with people who had some money for which they couldn’t think of any other use, the markets allowed enterprises to be founded and expanded.

Back then, investors invested in companies. They bought shares in anticipation of receiving a piece of the company’s future profits. And they usually had at least a rough idea about the business “their” companies were in.

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Short-sighted stock markets