Finally, yes finally, someone is asking the price of honesty in our stock markets.
The last 4 lines of the article stood out.
- Cheating is synonymous with lying. Like it or not, it is a frequent occurrence, even in the local stock market.
In Bursa Malaysia, lies and cheating are generally in the guise of "rumours" and "speculation", invented by the so-called market perpetrators.
It is not uncommon when companies repeatedly have to deny knowledge of any activity that has caused sharp price movements or active trading of their shares.
The local stock market, like other bourses in the world, partially thrives on rumours and specula-tion. But to be frank, it is tough to apprehend "cheats, liars or perpetrators" in a market culture that thrives on rumours and speculation.
I am glad that someone else is taking note about the 'rumours' and 'speculations' INVENTED.
But the article is lacking.
Problem is this.
The one and biggest issue, at least for me, is that these invented rumours and speculations itself are being published by our financial press constantly.
That is so badly wrong.
It cannot be this way.
Do I want to buy a copy of our financial news only to be constantly asking myself if the news I am reading is really news or is the news invented to drive a stock price higher or lower?
Well do you?
You pick up a piece of headline financial news and do you want to be questioning yourself if the news is true or utter cow dung?
How now brown cow?
It cannot be right, yes?
Our financial news cannot be used as a tool for these 'cheats, liars or perpetrators' to pass on their INVENTED news to the unsuspecting public!!!!!
Our financial press cannot simply publish a news based on unknown sources.
Our financial press cannot simply publish a financial news by quoting 'we are told. it is believed'.
It's all cow dung.
And it reflects so badly on the financial newspaper itself.
For one will ask if our financial press is in cahoots with these 'cheats, liars or perpetrators'.
Or is the so-called journalist publishing the news for own vested interest?
Or is the news editor involved?
Are these questions not valid if we see our financial press continuing to publish news based on 'according to sources'?
Sources invent their stories, press publishes them, stock moves....
Is that what we want?
Lastly, the article mentions..
- The local stock market, like other bourses in the world, partially thrives on rumours and specula-tion. But to be frank, it is tough to apprehend "cheats, liars or perpetrators" in a market culture that thrives on rumours and speculation.
It's not that tough really.
First and most obvoius step that needs to be taken is to stop these invented news flow on our financial news.
That's the first small step....
Listen one last time...
If no one is willing to make sure this small step is being taken, well, we might as well start giving our 'financial news' a new name.
Ya, how about 'According to sources news'...
or how about 'Our Daily Financial Rumours'...
or how about 'News That Will Make Your Stock Fly'....