THIS IS STOCK MARKET AND 419. There was a time in my village, a - TopicsExpress

THIS IS STOCK MARKET AND 419. There was a time in my village, a man appeared and announced to the villagers that he would buy monkeys for N5,000. The villagers seeing that there were many monkeys around, went out to the forest and started catching them. The man bought thousands at N5,000 and as supply started to diminish, the villagers stopped their effort. He further announced that he would now buyat N8,000. This renewed the efforts of the villagers and they started catching monkeys again. Soon the supply diminished even further and people started going back to their farms. The offer rate increased to N20,000 and the supply of monkeys became so little that it wasan effort to even see a monkey, let alone catch it!. The man then announced that he would buy monkeys at N100,000!. However, since he had to go to the city on some business, his assistant would now buy on behalf of him. In the absence of the man, the assistant told the villagers; Look at all these monkeys in the big cage that the man has collected. I will sell them to you at N75,000 and when the man returns from the city, you can sell it to him for N100,000. The villagers squeezed up with all their savings and bought all the monkeys. Then they never saw the man nor his assistant, only monkeys everywhere!. Welcome to the Stock Market!.

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