Former S&T MD Ridicules Modern Capital Markets
http://elilederman.com/ERL/Modern_Markets/Entries…
"More important, though, is what the bankers’ pitch won’t say: that your IPO will make Facebook just another chip in a multidimensional casino they run, one that gets seedier and less attractive every day."
nice share.
FB decides to file for a public offering because they would otherwise have to disclose financials anyway because of the number of investors. This guy's proposition, to create a "FB Exchange", while maybe academically interesting, isn't exactly a viable solution to the problem of financial disclosure in any form... It's essentially reinventing the wheel with no real reason to do so other than some moral position against the way modern markets work.
Let's not forget that there's no reason that a new derivatives market couldn't exist even if this new proposed exchange becomes a reality.
Velit sit vero non dolor alias ex quaerat iure. Enim sit voluptate ea dolores error id. Voluptas velit nostrum amet ipsam.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...