Whether professional investors place much faith in timing the market is closely aligned with how they earn a living.
When making out their holiday shopping lists, few investors would place shares of British retailers at the top.
At yesterday's closing prices, investors place the value of 724 Solutions at less than $18 million.
Prior to the advent of the Internet, investors had to call up their stockbroker and place an order on the telephone.
I believe many would-be investors place too much faith in the recommendations of "experts".
And that will persuade investors to place a higher value on its shares.
Such status is valuable because many institutional investors will place orders only with firms that are primary dealers.
As a result, investors will place a lower value to the new equity issuance.
An investor places the automatic order through an existing account.
No one is sure how much money retail investors have placed in these funds.