|
For SLReports.net Democratic Exchange Rejects New Investment Company...
Schism Holdings(SGF : ISE), which was debuted on the International Stock Exchange (ISE) on December 17th, 2008 pending a community vote whether to allow the company to proceed to the IPO stage was decisively defeated 28-5.
A good deal of the negative outlook on Schism Holdings, brainchild of Wesley Schism, was due to the large number of investment companies currently in active trading, as well as SGF(ISE)'s portfolio size.
Large private investor Eliale Morigi was the first to publicly comment, "Sorry, no need for another fund without capital and a long history. I voted no."
Erasmus Hartunian pointed to the small-scale size of Schism's present holdings, "A stake worth less US$20 in the venture and not even doing well ... and we are supposed to risk US$40K on that track record? I am all for leverage, but US$20 is hardly a display of confidence."
Delicious Demar described the public perception at length, "I'm sorry Wesley - I have to vote no as well. There is nothing to differentiate you from anyone else that wants to build a diversified portfolio with other people's money. The information that you provided was very sketchy - with no time-lines - so it is really impossible to tell over what period you made what kind of a return. There's no real plan provided - just a few speculative comments about markets - and an obvious confidence that you can make money in the exchanges. But with a total portfolio value of $7,000L, and fewer that 1,000 shares in almost every company you hold - I suspect that you have not yet had to contend with the serious lack of liquidity in all of the exchanges that makes stock values incredibly difficult to predict. I'll leave it at that, and I hope I cause no offense, Wesley - I simply don't see why we need another investment fund in SL - if you haven't yet, check out the history of success of all the other ones that have come before. Although a couple have done well - the vast majority have done horrendously." Konner McDonnell also weighed in, stating in part, "Jeb (Gibb) was correct about the overabundance of investment companies in the SL exchanges. We have so many investment companies now that I can't help but wonder how their competition is affecting their respective performance." And McDonnell then added, "Further, I see the SL virtual exchanges as more than just a fringe platform for displaced online gamblers. By investing in companies that have plans to use this money within SL, we're accommodating plans to inject new capital into that economy. While I doubt the sums we're talking about will make or break the SL economy, it can have some positive effects on the economy and perhaps other listed companies within SL. A limited number of SL-based investment companies can perform a similar function, but this can't be said of an investment company focusing on the RL economy in one fashion or the other." TOP NEWS:
|
