Everybody is concerned with the thin volumes. All the nonsense you read about volume being down due to politics is only partly true. Volumes are down because the brokers themselves are not trading because of new rules hindering brokers from trading their own money. Recent volumes show how much activity comes from the brokers themselves. And that brings me to my reason for wanting to address the new PSE Governors.
Most stockbrokers rely on a small group of clients to generate their income.
Most do not have the resources or the expertise to spread the word about investing in the market. This stock market can never grow and improve until share ownership among the population is bigger. If you are reading this column, you are interested in the stock market and should know what is going on. Well, when the PSE does these things, it is the best-kept secret in the Philippines. The effectiveness of their programs to attract new clients to the market has been dismal.