@D.G.Dayaratne wrote:Even interest rates come to near Zero level average intelligent people will not invest in SL stock market manipulated by the govt until
assured real level playing field in the stock market
I know most of innocent investors try get at lest what they have invested after 2009 artificial boom
It appears that higher authorities have not learn a lesson so far.
No one can play the fool with price mechanism
You are a wise man. Respect.
I think nowadays, people are using the word "manipulation" more freely due to all the negative vibrations being felt for past 20 months or so. even in 2005, our market was manipulated by "budhu m......." and gang. remember how some ceylinco company shares such as CSF, The Finance etc and many other shares doubled, tripled in 2-3 days time. every day, one share was targeted and price was driven up by sometimes 50 % ! This manipulation takes place in one form or the other in all markets in all countries.
The Hunt Brothers manipulated the Silver Market in the 70's. Soros attacked The Asian currencies (also manipulation) in 1996/1997. The malaysian economy nearly crashed bcos of this. OPEC continually manipulates Crude oil prices. China manipulates its currency the yuan to make it undervalued to benefit from exports. The USA tried to manipulate the Gold Market to bring about a crash to strengthen the Dollar by selling huge amounts of naked paper gold futures. Then what about the Barclays LIBOR rate interest rate manipulation ? Even Bernanke is to a certain extent manipulating the market with his doublespeak on the tapering of the QE issue. many countries & governments and individuals will continue to manipulate, stock, bond, currency, interest rates & commodity markets. they have done so in the past & will do so in the future. As long as their is a trading platform and people, price manipulation will occur due to human fear & greed.
In Sri-Lanka, we can see a typical inefficient illiquid frontier market at play. this goes with the territory. we will see wild swings. The "innocent" retail investors who are stuck entered blindly in the bull market of 2010/2011, ill advised by unscrupulous brokers. In hindsight, we can say they were not only innocent but greedy as well, and wanted a piece of the pie at that time. The SEC also fumbled with the ball not used to such bullishness & volume and tried to counter a bubble with ad hoc new rules etc.
Our Government will want to showcase the Stock Market in a positive manner as it is a mirror of the larger economy. They want to attract foreign investment. they will not "manipulate" the market downward to serve as a disincentive for foreign investors to exit. that is in the realm of the absurd. I also think our Govt has more important things to worry about than our stock market !
At the end of the day, we have only ourselves to blame if we find ourselves on the backfoot in the market. we have to re-evaluate our stockpicking strategies, timing horizons, financing decisions and finally have patience, conquer fear & greed, keeping in mind that economies, companies and stock markets go through cycles.
but sometimes easier to get fedup and find scapegoats no ?
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