Where have all the retail investors gone? Why is it that so few are interested in the stock markets? Despite all the efforts to woo them, systems and designs tweaked for their benefits, the best stock market in the world, the fastest high speed computers to hand millions of trades in a few seconds, where are the traders? Is it that Singaporeans are allergic to trading stocks?
No body knows why, or no one wants to see what is really wrong with the market? Everyone playing the 4 proverbial monkeys, see nothing, hear nothing, say nothing and do nothing. It is sad that there are so many super talents, including foreign talents, but no one knows or wants to know the truth. And yet, everyone in the industry knows what went wrong. What a farce!
And they all appear to be in a state of shock! Why ah? Why Singaporeans did not want to dabble in stocks? Stock market got no pulling power? We do not have this, we do not have that, we need more marketing to lure the suckers to buy snake oils!
Just flash back the memory to 1993, everyone, housewives, students, hawkers in the market, were all in the market, dabbling in stocks. Everyone was talking nothing but stocks. PhDs and highly qualified professionals were giving up their jobs to be in the market. And we have stocks, plenty of stocks from two markets to trade with. No need big foreign funds, no need high speed computers, no algos, and the stock markets were roaring.
The stockbrokers were smiling, the remisiers were hard pressed for time to breathe, the employees were in glee with 12 months bonuses. Property booms because there was so much liquidity and many people became rich. There was buzz, big buzz instead of big bust.
Today, with high speed computers, big foreign funds, plenty of them, algos, big trading volumes, but you could hear a pin drop inside a broking house. The industry is dying. The broking houses will go into the red if things did not turn around. The remisiers will become taxi drivers or housing agents if these are still available. Anything will be better than to become a remisier. The staff in the brokerages will see retrenchment coming.
A lucratic industry turning to a ghost town. 10,000 people will soon lose their jobs. What is happening? No one knows. All the people supposed to know did not know. Can you believe it? Then who should know? God knows.