MICHAEL AVERY: Reconnecting investors directly to stock issuers
New platform Utshalo wants people who manage their own affairs and have a stock portfolio to be equal participants in the public market
I remember my first real job in financial journalism — capturing daily Stock Exchange News Service (Sens) data, from general corporate finance actions to M&A, for David Gleason’s boutique publishing house, cutting out clippings of company news from the two major business newspapers (Business Report was actually worth reading in the early 2000s) and filing them in the Finance Week library he had acquired. It was mundane. He was a curmudgeon about detail. I loved it.
It was also a time right before everything changed in the drink-and-cigarette-stub, wandering albatross-fuelled world of sniffing out corporate malfeasance in the business media. The world was rapidly digitising and the old way of communicating with ordinary people holding stockbroking accounts with traditional brokers before the rise of online platforms — through newspapers announcing an abridged prospectus published in the paper with an application form — was on the way out. ..
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