date by which time the buyer hopes there will be a further advance enabling
a
him to make profit. But what happens?
After the professional operators have supplied the demand for
under time bargains
they begin at once by small cash sales at low prices to depreciate the shares:
in fact, they "bear" them and by that are able to buy at a low price the stocks they previously sold at a very high one, and on which, needless to say, the time buyer never realizes his profit.
The operation of ... means does this regularly and with ease, and his followers without money or reputation follow suit.
The position of the simple investor is now unenviable, he has bought stocks without any means to identify them, and "the gentlemen in the street," (and this is what they literally are) are utilizing these stocks, which are not their own, to manipulate affairs for their own benefit.
I feel strongly that if the commercial morality of Hong Kong is to be of good odour, this terrible evil must be stopped, and the only means of doing it without injury to
date by which time the buyer hopes there will be a further advance
enabling
a
him to make
profit. Buch what happens?
After the professional
operators have supplied
the demand for
under time
phares
bargains
they begin at once by
small cash sales at low
prices to depreciate the
shares:
in fact,
Ire orro
they
"bear" theur
and by thah
are able to buy at
a low price the stocks they previously sold at a very high one,
and on which, needless to say, the time
buyer never
realizes
his profit.
The operation of
means
does this regularly and
with
}
728
with ease, and his followers
without
money or reputation
follow suit.
The position of the simple investor is now unenviable,
he has brought sticks
without
any
mimbers
to identify them, and
the
gentlemen in the street," (and this is what they literally are.
(here)
are
utilizing these stick.
which are not their own to manipulaté
affairs for benefit.
their own
I feel strongly that
if the commercial morality of stingstong is to be of good
odour this tenible. evil must be stopped,
and the only
means
of doing it without injury
to
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