Much water has flown over in last few days.
And it’s really great to witness again the quality of folks we keep attracting at VP. This thread again is an example of a quality VP thread - that has effectively put all cards on the table - on both sides, so all of us can come away wiser from the spat. Great thoughts and great skill shown by many in cutting through the clutter on a complex issue.
As Hitesh says, its time to move on. But I can’t help adding 2 points, hopefully crisply
- No-more a fun place - I am with Subash on VP no more being the completely open, freely-collaborating time, challenging fun-time, and great learning-curve time we had from 2010-11-12
How we wish we could go back to those carefree times! Every VP Old Timer would love to be back there. Unfortunately the child has grown up, and finds the adult world “shackling” him in. He realises there are no free lunches, in life. Responsibility & Accountability has to be handled like an Adult. He has to think twice, thrice before posting
2.Credibility Questions - Ayush & Me face this the most - being the public face of VP
a) Isn’t a Disclosure “I have significant investments” a complete farce in the light of VP subscriber base today. For any popular/prolific poster at VP - that’s actually an advertisement. Any decent writer packages an unheard stock story well, posts at VP with nice disclaimers, more often then not, we see stocks spurting
b) Management Q&As - implies proximity to Management & Insider Information - started getting levelled against us from 2012. The first time we heard this was from a very senior functionary in BSE! To take care of UPSI (unpublished price sensitive information) apart from publishing at VP, we have been persuading company Managements to also put up the Q&A at company websites. Happy to report MPS has put up VP Q&A on its website
3.Most veterans/well wishers have been warning us for last couple of years, that VP can be in real danger of getting closed down. Is it really worth all the trouble? Why carry on with this double-edged sword hanging over you? Why not continue your work silently??
We at VP - the top 20 Contributors - when we met at Goa last June - decided unanimously to continue. Though everyone admitted it would be a far easier life (no hassles job) to continue what we are doing within this fab group, if we did not write at VP :).
We all wanted to continue VP - the idea of open-source investment collaboration was just getting strong roots. We had all grown in this way, there were miles to go. The only way to continue was of course to adopt Guidelines that ensure checks and balances, and get Admin to enforce them. And adopt a Code of Conduct for ourselves in the true letter & spirit of SEBI Guidelines - refrain from writing (read advertising) when you are transacting buying and even selling - it cuts both ways!
The other option - total freedom: VP closing down??
That is the stark reality. That is the gravity of the matter, however much we try to wish that away