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 Post subject: Stock market index for diamonds to launch
PostPosted: Fri Sep 13, 2013 10:21 am 
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Stock market index for diamonds to launch
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Chicago--An index that tracks the price of diamonds like the NASDAQ 100 follows the largest non-financial companies is slated to launch in the near future, with a diamonds-as-investment vehicle potentially not far behind.

On Monday, Chicago-based GemShares LLC, a “pioneer” in creating physically backed diamond investment products, issued a news release announcing an agreement with The NASDAQ OMX Group Inc. to develop the GemShares Global Investment Grade Standard (GIGS) Diamond Basket Index.

The rules-based diamond basket index will operate like other NASDAQ Indexes, tracing prices on diamonds that have met the GIGS standards.


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 Post subject: Re: Stock market index for diamonds to launch
PostPosted: Fri Sep 13, 2013 11:07 am 
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I'm not sure how much I'd invest in a "stock market" based around a commodity essentially controlled by a single entity...


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 Post subject: Re: Stock market index for diamonds to launch
PostPosted: Fri Sep 13, 2013 7:16 pm 
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I remember the late 1970's when the "diamond investment" craze jacked up prices into a market bubble, which collapsed, making fools out of all who came in too late or held too long.
Bad idea is bad.
We have been there before.

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 Post subject: Re: Stock market index for diamonds to launch
PostPosted: Fri Sep 13, 2013 10:40 pm 
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thomas.adamas wrote:
Bad idea is bad.
We have been there before.


Yes we have. Recently with the housing bubble, the dot.com bubble, even the Dutch Tulipmania of 1637. People have very short memories and, as a pundit recently said: "The only thing we learn from history is that we don't learn from history." Caveat emptor.

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