Month: October 2023

Top Interesting Facts About IPO Allotment

Initial public offerings (IPO) allotment has been a topic of keen interest for investors for a long time. It is of the utmost importance to understand the IPO allotment process and its implications. The following article explores the top 10 interesting facts related to IPO allotment. It provides an overview of the entire IPO allotment process, what some of the different types of allotment scenarios are, and how they all work. The article will also look at some details related to the upcoming IPO that is particularly important to investors.

An IPO allotment is the process through which a company issues shares during an initial public offering. It includes all the steps from submitting an application to the allotment and refunding unsuccessful bids. The issue price is determined by the company and is subject to change depending on the demand for the securities. The allotment process is an integral part of the overall IPO process. It determines how much money the company can raise in an offering and what investors participate in.

Different Types of Allotment Scenarios

Two primary types of allotment scenarios can occur when a company undertakes an IPO. The first is a fixed price scenario where the company sets a fixed price for the offered shares. This means that all investors who participate in the offering will receive the same price per share. The second is a competitive bidding scenario, where investors can bid on the number of shares they want to purchase. The company then determines which bids will be successful and how much each successful bidder will be allotted.

Competitive and Fixed Price Bidding

In a competitive bidding scenario, the price of the shares is determined by the market and the investor’s appetite for the stock. The company issues shares at the highest price, which still results in overall demand being met. This method helps companies to get the best return from their investments. In a fixed price scenario, the company sets a fixed price for the offering, and all investors participating in the offering receive the same price per share.

Pricing Impact on Allotment

The pricing of the shares has a significant impact on the size of the allotment. If the price per share is too low, the allotment size may be too large. This can result in unsold shares and a lack of liquidity. Conversely, if the price is set too high, demand may not be met, and the company may not be able to raise the capital it needs.

Lot Allotment

In a fixed-price offering, a lot allotment process is used to determine how many shares each investor will receive. Generally, the lots are allocated on a first-come, first-served basis. Investors who bid for more than the maximum lot size allowed for that particular offering will have their bids rejected. The size of the offering and the demand for the shares determines the lot size.

Price Band Mechanism

The price band mechanism is used in competitive bidding scenarios to allow investors to submit bids within a certain range. The price band helps to ensure that investors do not submit too-low bids, as this could result in an overall underpricing of the shares. The price band also helps to protect the company from any potential over-subscription of the offering by allowing the company to set a minimum price for the offering. This gives the company more control over how much money it raises in the offering.

Free-From Pricing

Free-from pricing is a pricing method that allows the investors to bid a price independent of the share’s market price. In this method, the investors submit their bids without knowing the market price and the bids are put into a lottery where a predetermined number of bids are selected. This method helps to ensure that the investors do not submit too low of bids to increase their chances of success.

Verification of Allotted Shares

Once the allotment process is complete, the company will verify the allotted shares. This is done to make sure that the investors who have been allotted the shares are able to pay for them. The company will also verify that the price at which the shares have been allotted is satisfactory to the investors.

Allotment Negative Considerations

When allotting shares in an IPO, there are some negative considerations that must be taken into account. If the allotment is not done properly, it could lead to a lack of liquidity, unsold shares, underpricing or overpricing, and dissatisfied investors. Therefore, it is important for the company to be aware of the potential issues that could arise from an IPO allotment before the process begins.

Conclusion

IPO allotment is an important part of the overall IPO process. It determines how much money a company can raise in an offering and which investors receive the allotted shares. Understanding the intricacies of the IPO allotment process is crucial for investors, as it can lead to better returns and fewer issues. This article provides a comprehensive overview of the top interesting facts about IPO allotment, from the types of allotment scenarios available to the potential negative considerations that investors must be aware of.

Investing in the Stock Market: Reasons to Make this Financial Decision

Investing in the stock market is an appealing option for many people looking to grow their wealth over time. By taking the right steps, there is potential to create a significant return over the long term. This article explores why investors should consider tata motors share as one of their financial investments.

Overview of Investing in the Stock Market

The stock market can be an attractive investment option for many people, comprising a range of different securities, all of which can be purchased and traded for a profit. When selecting stocks for purchase, it is important to consider the company’s financial condition and prospects and the amount of risk associated with the investment. Stock prices fluctuate over time, so it’s important to have a good understanding of the dynamics of the market and when to buy and sell stocks.

Advantages of Investing in Stocks

The stock market can offer investors several advantages, including long-term growth potential, diversification of assets, and the convenience of being able to purchase and sell stocks online. In addition, investment in the stock market can provide investors access to some of the world’s most successful and profitable companies. As such, it is unsurprising that the stock market can provide investors with several benefits over more traditional investments such as CDs and bonds.

Strategies for Investing in the Stock Market

There are a variety of approaches to investing in the stock market. These include building a portfolio that consists primarily of large-cap stocks, focusing on sector-specific investments, utilizing a buy-and-hold strategy, or trading frequently. No matter the chosen strategy, it is important to ensure that the portfolio is diversified and appropriately balanced to reduce risk and increase potential returns. In addition, investors should consider seeking the advice of a financial expert to ensure that their portfolio is appropriate for their unique needs and goals.

Finding Professional Advice

Investors should always consult a financial professional to ensure that their investments suit their individual needs and financial situation. A financial advisor can provide insight and guidance into strategies that can help maximize returns on investments in the stock market. Additionally, professional guidance can help ensure that investments are diversified correctly and well-positioned for long-term success.

Access to Expertise and Support

When investing in the stock market, investors have access to the expertise and support of many professionals. Many stockbrokers offer a range of services to support investors, which can be used to gain access to real-time information and better analyze trends. Moreover, the presence of professional advisors can help investors make informed decisions and build a portfolio that meets their individual goals.

Accessibility and Portability

One of the biggest benefits of investing in the stock market is its accessibility. Investors can access their investments at any time from anywhere. All that is required is an internet connection and a computer or smartphone. This ensures investors are always up to date with the latest market movements. Additionally, investors can transfer their investments in stock markets to another broker or institution easily and quickly.

Summary

Investing in the stock market can be a profitable way to create long-term wealth. Investors can create a portfolio that will benefit them in the long term by considering factors such as company performance, type of stocks, and the appropriate strategy. With the help of a financial advisor, investors can craft a portfolio tailored to their unique financial objectives. As such, the stock market can be attractive for people looking to maximize their potential financial return.

Tips To Invest In Shares

A newbie may believe that the stock market is a location where investments could provide quick returns and where they can quickly gain vast amounts of money. However, the truth is otherwise. Making money in the stock market is difficult. You need to have strong market knowledge, patience, and a long-term investing perspective. It would help if you only used stock market advice from a dependable financial partner, & your investing ideas ought to be in line with the financial objectives and risk tolerance.

Investors are drawn to the stock market by its quick and big profits. But to avoid losses, several essential guidelines must be followed.

Select solid, fundamental companies

Choose firms with solid foundations instead than penny stocks when investing. This assures the firms’ ability to resist changes in the stock market. These also provide higher liquidity for investors and improved long-term profits for investors.

Conduct due diligence by researching.

Many individuals shy away from doing their research because they don’t want to put out the work or because they need to know the correct technical terms. To make the right choices, however, investors must make the time to examine the company and the stock market. Investors will be better able to predict the future if they do their homework before investing in a firm.

Keep Your Greed Side.

The stock markets are exceedingly unpredictable and volatile. For novice traders, it is almost impossible since even experienced traders need help to predict market moves. Before investing, investors are recommended to set their exit and entry prices for ideal share prices. Additionally, they must terminate their holdings and record profits after the goals are met. Never becoming greedy in the stock market with the hope that market circumstances would improve for one’s holdings is crucial.

Utilize Credible Intermediaries

Dealing with reputable mediators will be advantageous to the investor. Such intermediaries provide several value-added services and a secure and safe trading platform. They frequently offer their customer’s research reports and other beneficial data regarding the stock market. They also provide exceptional customer care to guarantee that any problems experienced by account users are quickly and effectively fixed.

Refrain from Being Seduced by Sector Performances

Experienced and skilled traders possess preferences for specific industries at different times. They base their choices on a variety of economic & related variables. Investors should be careful to avoid getting overawed by these sector biases. They must keep in mind that only some firms in the industry are suitable investments. The most prominent firm in a particular sector is sometimes the finest. Investors must review the fundamentals of the stock market, investigate the industry, and do due diligence on all participants.

It’s Not Always Beneficial to Invest in Cheap Stocks

Many investors find low-priced equities, sometimes referred to as penny stocks, to be alluring. The primary justification for doing so is these stocks’ enormous potential for profits. The hazards of investing in penny stocks are considerable, however. Investors are urged to keep in mind that the firm’s shares are cheap due to its poor performance. Therefore, it is wise to stay away from them.

Investors may better understand how to trade on the stock market by heeding this advice. Traders must maintain vigilance and avoid falling for exaggerated promises or marketing tricks.

Benefits of Investing in the Stock Market

Have you often heard about just a friend’s friend, cousin, or co-worker who has made a significant amount of Investing in the Stock Market, leading you to believe it would be a brilliant idea to do the same? However, you often consider investing’s drawbacks, such as risk and the possibility of time commitment, which pushes this concept to the side. But let me inform you that there are several advantages to diversifying one’s financial holdings beyond term deposits, golds, or mutual funds. A click now allows you to purchase or sell stocks, making investing considerably simpler due to technological advancement. Now that you may all buy stocks, everyone can invest in markets and gain from them. Invest your money as you unwind and enjoy!

The advantages of investing in equities markets are as follows.

Free of hassle trading

There is no longer a complicated technique involved in purchasing and selling stocks. Trading is a single click away only with your smartphone. Since it’s no longer a time-consuming and exhausting procedure, you may frequently check your stock market investments and trading in addition to your full-time work.

Inflation prevention

Although securing the future is the primary goal of investing, we should sometimes assess the inflation rate. The profits become null if inflation and the rate of investment return are comparable. Investment returns outpace inflation in theory. Inflation has never kept pace with stock markets and benchmark indexes, such as India’s Nifty & Sensex. Markets have seen annual returns of around 10 per cent, for example, if inflation is between 3 and 4 per cent.

Liquidity

Stocks are considered liquid assets, meaning that they may be quickly turned into cash and that there are always many purchasers for them. Not all assets can be sold quickly; for example, certain assets, like real estate, are hard to sell. The property investment may only pay off for a few months. But it is much simpler when it comes to stocks. A single stock may have many sellers and buyers because of the daily average number of transactions on the NSE and the BSE.

The Booming Economy Has Its Benefits

The stock market constantly influences an expanding economy & responds to all economic growth indices, including GDP, rising prices, corporate profits, and others. A strong economy may be directly benefited from by stock market investors, and the worth of an investment rises in direct proportion with economic expansion. When a country’s economy is expanding, corporate profits rise, raising each person’s average earnings. Sales increase as a result of this having an impact on customer demand. As a result, the sail share price of the company’s stock rises, increasing the value of the investments in it.

A Framework That Is Well-Regulated and Open

The Stock Exchanges Board of India oversees the Indian financial markets (SEBI). Stock exchange regulation, growth, and shareholder rights protection are within SEBI’s purview. In other words, a regulatory framework established by SEBI, which aids in lowering risks of corporate fraud, ensures that investors’ interests are very good when they invest in financial goods on the share market.

Conclusion

It would help if you proactively considered stock market investments and financial portfolio diversification to beat inflation. Additionally, you can choose the businesses you want to invest in, which will act as a crucial liquidity buffer.

Why Is It Very Much Important For People To Invest In The World Of Stocks?

The stock market has been very successful in terms of creating an enormous amount of wealth over the last few years and ultimately this is one of the major reasons behind its popularity. The stock market is definitely having the best possible potential of providing people with significant returns on the investment over a long span of time which makes it a very lucrative option for investments. 

Some of the basic reasons for investing in the world of the stock market after considering the ncc share price have been very well explained as follows:

  1. Potential of getting very high returns: The primary reason why people are interested to invest in the world stock market is that it comes with the potential of very high returns in comparison to alternatives like bank certificates, deposit gold, treasury bonds and other associated things. This particular option very well provides people with lucrative return opportunities which makes it quite popular.
  2. Protecting the wealth from inflation: Another very important advantage of focusing on investments in the world of the stock market is that people will be able to protect their wealth from inflation very easily and further people will be able to enjoy double-digit annual returns from stocks. Basically, this is the best opportunity of hedging against inflation without any kind of problem throughout the process.
  3. The ability to earn very regular passive income: Most of the companies which are paying dividends or a portion of the profits to investors are very famous in the whole market which is the main reason that majority of people are interested in entering the stock market so that they can have easy access to the regular passive income. This particular income will be definitely helpful in supplementing the retirement income or the paycheque of investors which makes it one of the major motivations to invest in this particular area.
  4. Liquidity factor: The majority of the stocks can be traded publicly on the Stock exchange which very well highlights the ease of purchasing and selling it without any kind of problem throughout the process. This particular option is a very liquid win in comparison to other available options for example real estate investment and other associated things. In the overall business people will be definitely able to get the best possible liquid affected without any kind of problem throughout the process.
  5. Diversification: People can easily build a diversified portfolio in this particular area which makes it very much popular and the best part is that the overall investment portfolio will be sorted out very easily. Everyone will be able to enjoy easy access to multiple benefits without any kind of problem and the best part is that people will be able to enjoy the ability to start small in this particular area.

In addition to the above-mentioned points, everyone will also be getting the pride of ownership of a stake in a company which makes this particular option very much motivating and lucrative for individuals.

How Do Investors Make Profits from the Stock Market?

The stock market either amplifies your investments or might pauperize your funds. However, smart strategies and analysis can enhance your investment portfolio. Investors can invest in the potential shares from the unlisted share price list on the platform Unlisted Assets. But, the investors earn money from two primary ways in the stock market:

  • Gain from Capital Growth

Shares’ investment provides an opportunity to make money from capital appreciation. Simply, if an investor invests the money for the long-term, it brings significant gains on the principal amount when the prices of the shares go up. Probably, the share prices can rise up to 100% or more. However, capital appreciation is not guaranteed. There always lies the risk that prices remain lower than buying price.

  • Dividend Gains

Keeping capital gains aside, investors can find a permanent source of income in the form of dividends. The respective companies dispense partial or complete profitable dividends to their shareholders and utilize the remaining funds for the expansion. 

The dividend is distributed as per the no. of shares. The more the no. of shares, the more will be the profit of the stakeholders.

Functioning of Share Market

  • Understanding the Exchange Platform 

A stock exchange is precisely a platform that facilitates the trading of financial instruments such as bonds, stocks, and derivatives. SEBI (Stock Exchange Board of India) monitors the activities in the stock exchanges. Interested investors register themselves with SEBI to begin trading in these exchanges. Brokering and the issuance of shares are the included trading activities. 

  • Companies’ Listing in the Secondary Market

Companies list their shares on the secondary market through an Initial Public Offer or IPO. Stocks are allotted before listing and the investors who bid for the stocks reap their share of profits based on the number of stakeholders.

  • Trading

The secondary market is the marketplace for the transaction of shares to make significant profits. The trading of stocks begins here once the company gets listed. 

  • Intermediaries

The high magnitude of the investors makes it difficult to assemble at one specific location. Therefore, to streamline the trading process, stockbrokers and brokerage firms come into the picture. These entities being registered with SEBI link the investors and exchange itself. 

  • Proceedings of the Shares

When the traders place an order of the shares, the brokers pass on the order to the exchange and then are matched for a sell order. The exchange of the shares is likely to happen when both the buyers and the sellers agree upon the same price. 

  • Settlement

Upon finalization of the pricing, the transaction is confirmed as no default. The stock exchange then facilitates the transferring of ownership of the shares and the process is known as settlement. 

Previously, the settlement time used to take up weeks to materialize things which now takes place in T+2 days. With the digitization of the trading process, the shares reflect in your Demat account within two working days. Investors are subjected to getting involved in underlying market risks.

Pitfalls of Unlisted Shares Investment

The investments in the companies that are not listed in the open market are unlisted shares trading. Unlisted or unquoted investments are generally issued at favorable prices by the investors. Unlisted companies being smaller in size have the most ambitious plans to soar with maximum profits in the trading market. To nurture and grow the potential of small-scale businesses, they need high investments to meet their capital needs. 

Unlisted companies are considered to be high-risk by angel investors, financial institutions, and individual investors. Despite knowing the risks involved, a large pool of investors jumps into the unlisted securities market. 

Here are the reasons for investors to be more inclined towards unlisted shares investment:

  1. Capital contraction

While investing, capital contraction is the most important concern of the investors. The amount of capital to invest in unlisted equities is accountable for the loss or profit of the investors. This drags them down and refrains them from investing even in potential shares. 

  1. Lack of liquidity 

The investment made through online platforms is highly illiquid. It implies that the investors can’t sell their shares until the respective business is not driven towards a successful exit and sustain the financial regularities with the existing funds. 

For small-scale businesses, it is difficult to retain customers for a long time with dreary financial status. While, even for successful businesses, a flotation or purchase is unlikely to happen for several years. Investors should stay for a long-term in the businesses to avail significant returns. 

  1. Dividends

The new-age businesses lack enough funds to pay dividends at the early stages. Instead, they re-invest the funds into the businesses and increase the overall shareholder value. Most successful businesses don’t pay dividends to the stakeholders and continue to invest again for more profitable returns. 

  1. Dilution

If you invest your funds through any platform, it could probably be diluted. Simply put, if businesses require funds at the later stages, the number of shareholders will increase and you are likely to get reduced profits as the investor in the respective company. 

The liberty provided to different investors in a company might be another reason for the investors for dilution of the stakes. Continuous reinvestment in the businesses is a safe option to increase the shareholder percentage. 

  1. Segmenting the investments

The start-ups and new-age businesses are at the ‘yet to execute their potential’ stage before the investors show interest in investing their funds. It might put the investors in the dilemma of whether to invest or not. Diversifying the investment portfolio is in the best interest of the investors. Equalizing large bricks of investments into multiple unlisted companies from various sectors over investing large chunks in one small company is not a wise perspective. The online platforms dilute a large portion of the investments of the stakeholders in the stage of raising funds.

What Are Unlisted Shares? Is Buying Unlisted Shares Worth It?

Buying unlisted shares is a highly speculative investment. For investors who wish to speculate on the stock of a small or smaller company, it is the best bet. Buying or trading unlisted shares, however, is not without risk, as there’s a chance you will lose your money. However, for the risk-tolerant investor, unlisted shares can be a highly profitable investment. While there are no guaranteed profits, there are several things you can do to increase your chances of profiting from this high-risk investment. The most popular means of profiting from unlisted shares is to find a company that has a good market cap. Thus, below are some of the things you should consider before investing in unlisted shares.

·         Your Time Horizon– If you’re willing to accept the risks of investing in unlisted shares, you might consider an OTC investment. If the security’s trading volume is low and it hasn’t been a while since it was first listed on the OTC market, you may have an advantage as it will be cheaper. Depending on the product, there are several advantages and disadvantages of investing in OTC securities. Moreover, consider if you want to have your investment as long-term or short-term.

·         Diversification-There is no doubt that diversification in your investment portfolio is a crucial component to success. As an example, if you’re heavily invested in one stock, your risk exposure may be considerably greater than the overall market. This is especially true if your portfolio’s overall size is relatively small, so the risk of losing your entire investment is even greater. By choosing to purchase unlisted shares, your portfolio grows by the number of shares you own.

·         The Size of the Company– Usually, unlisted companies are smaller companies or start-ups, which tend to be less stable than bigger, more established firms, and therefore require less investment. Buying an unlisted share is a means of investing in a company that can’t necessarily afford to advertise itself, or in an unlisted business that doesn’t want to list publicly. It depends on the nature of the business, the size, and the economic moat. A company’s scale and moat are widely regarded as the main criteria of a successful investment.

·         Volatility-Volatility is a financial term that refers to a fluctuating price over a short period. Volatility in prices is generally considered good news because it means that there is high demand for the securities which in turn means the price will rise. But volatility in the price of a stock can also be bad news. A large rise in the price over a short period can be a bad sign because it means that an investor is overpaying for the stock.If your long-term time horizon exceeds 10 years or perhaps even 20 years, an investment in best-unlisted shares to buy can be very valuable. You could realize tremendous upside in your investments, potentially having a higher rate of return than you could realize in a company that is already trading on a stock exchange. In addition, there is no insider and market-moving information that could negatively impact the value of your shares in the long term.

One’s Golden Ticket to Instant Wealth: Benefits of Investing in Unlisted Stocks

With many benefits around investing in unlisted stocks, it is no wonder that they are becoming more and more popular.

Suppose you have ever thought about getting started with investing but hesitated because of the perceived complexities and risks involved (and not to mention the heavy fees and commissions) with listed stocks. In that case, unlisted stocks might be an option worth considering. Here are some of the benefits for one as an investor.

1. Risk: One can rest easy knowing that whatever happens, their investment is safe from the risk of manipulation or devaluation due to market forces or financial irregularities – so long as they invest in a reputable company. Investing in an unlisted stock means there is less public information on which to base their investment decisions. The unlisted stock prices are also low compared to listed, so one can invest more and gain more profit.

2. Liquidity: One of the most incredible benefits one get from investing in unlisted stocks is liquidity – the ability to quickly cash out of an investment and get back their original capital (or at least a large portion of it). With listed stocks, there are numerous restrictions on when and how one can cash out. For example, if thy want to sell some shares, even if offered below market rate, there may be a settlement period of up to 3 business days. But with unlisted stocks, cashing out is as simple as giving their broker a call or sending them an email requesting that they sell their shares for them! One can then receive funds into their bank account within 24 hours.

3. No Brokerage Fee: Since there are no listing fees to be paid, no brokerage fee is charged. One can save a lot of money by not paying a broker’s commission and other costs associated with trading listed stocks.

4. No Minimum Investment: With listed stocks, there could be a minimum amount they need to invest before trading on the stock exchange. Some exchanges may require a deposit of thousands or tens of thousands of dollars before they can begin trading listed stocks – but not unlisted stocks! This allows more people starting out with small investments to get into the game at minimal cost.

5. Less Paperwork Involved: Compared to listed, the paperwork involved in investing in unlisted stocks is less. The requirements tend to be much easier, and oftentimes there are no requirements at all.

6. Less Public Information: Since listed stocks are traded on an open exchange where almost anyone can access information about the stock, there is more public information available than with unlisted stocks where only certain investors or organizations have access to that type of information – which in turn makes the buying and selling process less competitive compared to listed stocks.

7. Limited Regulatory Requirements: Every investment indeed comes with its own set of risks (and usually regulations), but when it comes to investing in unlisted stocks, the regulatory framework in place allows one to invest with a higher degree of certainty in what they are buying. Regulations for listed stocks are put in place to ensure that there is proper disclosure of information that can help investors make informed decisions – but if they are not able to access that information, then the purpose of those regulations is lost.

These were some mind-blowing advantages of an unlisted stock exchange.

Reasons To Buy Unlisted Shares | The Game Of Trade

Perseverance is the key to success, and the same goes for buying shares. As they may know it requires a high level of perseverance due to its high-risk levels. It will pay off if they are prepared to go through many failures before finally becoming successful.

One method where patience is required at all times is buying unlisted shares. These are shares that have not been listed on any stock exchange yet, usually because they are too small with too few shareholders. They are sold by companies or by people who want to sell their shares in order for their company to grow further.

Despite the difficulty to buy unlisted shares there are several good reasons for which you should consider doing so, as follows:


1) One can start from a small share portfolio

The first reason is that it is a good investment for those who want to start from small money. It does not matter whether they have five 500 rs or 5000 rs, anybody can buy unregistered stocks and benefit from them. In this way they will be able to build their personal wealth without spending all their savings for it to work.


2) One will meet the company founders

Additionally, by buying unlisted shares they will have the opportunity to personally meet with the company founders and discuss their business plans directly with them. As an investor they are entitled to know what is happening behind the scenes; meetings like these give them access to information that most people don’t know about.


3) They will have the chance to control the company

They are also allowed to vote or nominate directors, which is another incentive for buying shares. This is almost impossible with listed companies but not so with unlisted ones. The more shares they buy, the more voting power they have. If they invest big enough, this gives them a lot of influence over how they run their business.


4) They will benefit from preferential treatment

As an unlisted share owner, they are entitled to certain benefits such as discounts on goods or services offered by the company. Nowadays these types of dealings usually include many more than just physical products. Their value also includes online services such as web hosting or maybe even internet marketing consultation, etcetera.


5) There are no restrictions on selling their shares

Finally, there are no restrictions on selling their unlisted shares at any time that they choose even if it is just five minutes after buying them! With listed shares usually there are many complicated rules and these can make investors unhappy because they feel as though they don’t have total freedom over what they do with them.
Every investment is risky, but this does not mean that they shouldn’t try it out. The unlisted shares list is definitely worth looking into; the only way to get ahead in life is by taking calculated risks and reaping their rewards. One should never be afraid of failure because this will put an end to their investments before they even get started!