Can you tell me how these objections do not apply to buying shares of IBM? Clearly, the people who work for IBM would work a lot harder if they owned the company -- and yet billions of dollars ride on the assumption that they will work hard anyway!
You can probably decide on which information to disclose in advance. This is how it works with OTC securities -- some companies don't give any information in their annual report, and others will tell you down to the last dollar how much they spent on their secretary last year.
Unfortunately, if the government somehow allowed this, it would almost certainly mandate consistent disclosure, making this a market for people who have whatever cookie-cutter preferences the first bureaucrat thought up. Oh well. Maybe if you list people in Dubai you'll have better luck. They seem friendlier to new financial products.
Well they are compensated by the managers who have an incentive to make them be as productive as possible, otherwise they'll get replaced by the shareholders.
I'm sure there's some way to structure this to make it legitimate - maybe if we can tax it!
You can probably decide on which information to disclose in advance. This is how it works with OTC securities -- some companies don't give any information in their annual report, and others will tell you down to the last dollar how much they spent on their secretary last year.
Unfortunately, if the government somehow allowed this, it would almost certainly mandate consistent disclosure, making this a market for people who have whatever cookie-cutter preferences the first bureaucrat thought up. Oh well. Maybe if you list people in Dubai you'll have better luck. They seem friendlier to new financial products.