Greed, as I argued at the weekend, is good. I believe in capitalism in its purest form. But AIM is not pure capitalism it is crony capitalism, a mechanism for transferring wealth from the many (that will be you reading this piece, private investors) to the few.
I was chatting to Paul Scott on this matter earlier. He used the phrase Cannon Fodder to describe how some in the City view private investors. He is kind. I would say most in the City view we mere plebs in this way.
The fact is that 80% of companies on AIM will never, ever generate a cent of free cashflow.
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