Reliance power and "Chor" promoters

Has anybody ever thought why majority of brokers/promoters/punters/investment bankers wish that always, market should keep on going up and attain new high every month, every year. Like in the storm, iron cauldron also flies, in irrationally bull market, even dud scrips start flying. Dirty/dishonest operators manipulators can do business only in hyper markets. In calm markets, such elements will be out of business and unemployed because in stable market, investors will do only value buying. Similarly, in irrational bull markets, promoters can make placement of shares at highest possible premia, float IPOs at wrong prices taking advantage of bull euphoria with complete disregard to fundamentals. Ponzi game is played wherein even wrong pricing of IPO is justified because it was listed at premium and investors could make 20-40% instantly. It encourages more IPOs at more wrong/aggressive pricing and investors still flock to it as they made money in earlier/another issue. Investment bankers walk away with hefty fees and patting their backs for managing billions worth IPOs . However, nobody can fool everyone for all times or even for a long time.

IPOs of Emaar MGF and Wockhardt Hospitals bombed badly, leading to withdrawal of IPO. It is despite the fact that literally, who's who of investment banking world were involved in the process of selling chalk for the price of cheese. Now, no one is admitting the mistake of wrong pricing. Rather, they are blaming unsuitable market conditions. It clears shows the greed and collusion on part of promoters and investment bankers. Emaar has issued a statement that 'projects wont be affected as enough funding is available' .It means that they did not need more funds and were just taking advantage of investors' madness for IPOs. If so was the case, why they planned for an IPO? This community has become sort of megalomaniac who think no end of themselves and who want to leave nothing on the table for common investors. They wont reprice their IPO at realistic levels and prefer to wait for another euphoric run on the bourses to make the killing. Lion wants to eat only the meat and not grass. Excessive hype and speculation in IPOs can be partially curbed if all classes of investors (no exceptions) have to put 100% money alongwith application. Moreover, it should be made obligatory on part of promoters to subscribe at least 5% or even 10% of IPO amount at same price which promoters are planning to extract from gullible public. Many Promoters have been hooked to the thinking that public/investors' 1 rupee is worth 10 paise whereas promoters 10 paise is worth One rupee.

Investors and promoters may remember that it may be possible to hold share price to unrealistic levels for 1 hour or 1 day or few days but not for a long long time.