![]() | This article is rated B-class on Wikipedia's
content assessment scale. It is of interest to the following WikiProjects: | ||||||||||||||||||||
|
![]() | A fact from Cornering the market appeared on Wikipedia's
Main Page in the
Did you know column on 4 July 2004. The text of the entry was as follows:
| ![]() |
I agree that the Article is WRONG. But for another reason. A market corner requires short sales, where the short seller has only one buyer to go to, to buy back shares. This is what the Hunt Brothers did with silver. Imagine selling silver short, and then the price rises, and you have only one seller to go to, to buy them back. That is going to suck mightily. you are in a corner. Also remember the penalty for failing to buy them back. As the saying goes... "He who sells what isn't his'n, buys it back or goes to prison." — Preceding unsigned comment added by 173.2.221.64 ( talk) 02:26, 9 April 2015 (UTC)
Article is WRONG. It is too narrow. Cornering the market is not necessarily illegal. Cornering the Market is to be so successful at at selling or making a particular product that almost no one else sells or makes it. This is per the Cambridge International Dictionary of Idioms © Cambridge University Press 1998. It is not illegal to be successful like that.
What this article is describing is not Cornering the Market but rather, "Manipulating the Market" or something like that. Anyway, it is wrong and it is very bad.-- Blue Tie 22:33, 25 September 2007 (UTC)
The "Great Salad Oil Swindle" is not an example of an attempt to corner the market, it's just plain old fraud. This paragraph should be removed. -ID —Preceding unsigned comment added by 146.229.139.228 ( talk) 21:32, 31 October 2007 (UTC)
The article says the climax of Trading Places involves a scheme to corner the market in frozen concentrated orange juice. This is incorrect; the Dukes' plan is just to make use of inside information (a stolen crop report) to buy the frozen concentrated orange juice at what they think is an artificially low price. Unless I'm mistaken, there's nothing in the movie to indicate that they are attempting to influence the price of FCOJ (though this happens inadvertantly, when other traders see the Dukes buying up FCOJ and assume they know something about the coming crop report).
Unless I hear otherwise, I'll remove this reference. -- Narsil ( talk) 18:16, 13 August 2008 (UTC)
This article could do with a better explanation of exactly why this is a risky proposition. Hixie ( talk) 09:30, 30 August 2008 (UTC)
In the MMORPG RuneScape, groups of players are currently buying up huge numbers of items and hoarding them to inflate their prices - successfully. This is the same thing as what this article describes, yes? If it ever made it into a newspaper or some other source, would it be worthy of inclusion? Vimescarrot ( talk) 11:45, 29 May 2009 (UTC)
Except they didn't (in fact, quite the reverse). In the end Volkswagon "merged" with Porsche, threw out Porsche's chairman, and made Porsche a subsiduary. See:
•Λmniarix• ( talk) 13:59, 2 July 2010 (UTC)
http://money.ninemsn.com.au/article.aspx?id=7931636&rf=true
According to the article the equivalent of Europe's entire cocoa bean supply was bought by a "British financer". The article also mentions possible cornering taking place. —Preceding unsigned comment added by 114.77.221.122 ( talk) 08:24, 20 July 2010 (UTC)
Anthony Ward is behand the cocoa cornering: http://www.telegraph.co.uk/finance/markets/7895242/Mystery-trader-buys-all-Europes-cocoa.html http://www.telegraph.co.uk/foodanddrink/foodanddrinknews/7897075/British-financier-Anthony-Ward-behind-658m-cocoa-trade.html —Preceding unsigned comment added by 93.104.44.173 ( talk) 12:40, 19 September 2010 (UTC)
The Oil Futures Market-Corner
The price of crude oil started at a lowly $11.00 in 1996, but a full market-mania later, it was trading @$147/bbl in 2008. It was assumed that the oil price was rising due to peak oil or conflict in the middle east, but it had all the trappings of a market-corner in oil futures.
http://www.forbes.com/forbes/2009/0413/096-sachs-semgroup-goldman-goose-oil.html
The Gold Market-Corner
In 1869, Jay Gould and Robert Fisk set about cornering the market in gold. —Preceding unsigned comment added by 173.34.127.10 ( talk) 02:01, 9 August 2010 (UTC)
Thoughts on inclusion?
Slate — Cornering the Market on Essential Drugs
Deepred6502 ( talk) 07:21, 27 September 2015 (UTC)
Wouldn't DeBeers be a good example of a cornered market? I would think that's a classic example. — MiguelMunoz ( talk) 07:29, 25 February 2016 (UTC)
I just deleted this line: One definition of cornering a market is "having the greatest market share in a particular industry without having a monopoly". It already had a "citation needed" tag on it...but it's obviously wrong on its face. After all, in every industry someone has the greatest market share. So are we to understand that every market is cornered? Nonsense. A market corner is a rare and specific thing, and requires more than simply having the highest market share. If 19 firms each have 4.99% of a market and the 20th has 5.19%, that firm hasn't cornered anything...we all know that, right? — Preceding unsigned comment added by 67.6.115.194 ( talk) 02:50, 15 May 2024 (UTC)
![]() | This article is rated B-class on Wikipedia's
content assessment scale. It is of interest to the following WikiProjects: | ||||||||||||||||||||
|
![]() | A fact from Cornering the market appeared on Wikipedia's
Main Page in the
Did you know column on 4 July 2004. The text of the entry was as follows:
| ![]() |
I agree that the Article is WRONG. But for another reason. A market corner requires short sales, where the short seller has only one buyer to go to, to buy back shares. This is what the Hunt Brothers did with silver. Imagine selling silver short, and then the price rises, and you have only one seller to go to, to buy them back. That is going to suck mightily. you are in a corner. Also remember the penalty for failing to buy them back. As the saying goes... "He who sells what isn't his'n, buys it back or goes to prison." — Preceding unsigned comment added by 173.2.221.64 ( talk) 02:26, 9 April 2015 (UTC)
Article is WRONG. It is too narrow. Cornering the market is not necessarily illegal. Cornering the Market is to be so successful at at selling or making a particular product that almost no one else sells or makes it. This is per the Cambridge International Dictionary of Idioms © Cambridge University Press 1998. It is not illegal to be successful like that.
What this article is describing is not Cornering the Market but rather, "Manipulating the Market" or something like that. Anyway, it is wrong and it is very bad.-- Blue Tie 22:33, 25 September 2007 (UTC)
The "Great Salad Oil Swindle" is not an example of an attempt to corner the market, it's just plain old fraud. This paragraph should be removed. -ID —Preceding unsigned comment added by 146.229.139.228 ( talk) 21:32, 31 October 2007 (UTC)
The article says the climax of Trading Places involves a scheme to corner the market in frozen concentrated orange juice. This is incorrect; the Dukes' plan is just to make use of inside information (a stolen crop report) to buy the frozen concentrated orange juice at what they think is an artificially low price. Unless I'm mistaken, there's nothing in the movie to indicate that they are attempting to influence the price of FCOJ (though this happens inadvertantly, when other traders see the Dukes buying up FCOJ and assume they know something about the coming crop report).
Unless I hear otherwise, I'll remove this reference. -- Narsil ( talk) 18:16, 13 August 2008 (UTC)
This article could do with a better explanation of exactly why this is a risky proposition. Hixie ( talk) 09:30, 30 August 2008 (UTC)
In the MMORPG RuneScape, groups of players are currently buying up huge numbers of items and hoarding them to inflate their prices - successfully. This is the same thing as what this article describes, yes? If it ever made it into a newspaper or some other source, would it be worthy of inclusion? Vimescarrot ( talk) 11:45, 29 May 2009 (UTC)
Except they didn't (in fact, quite the reverse). In the end Volkswagon "merged" with Porsche, threw out Porsche's chairman, and made Porsche a subsiduary. See:
•Λmniarix• ( talk) 13:59, 2 July 2010 (UTC)
http://money.ninemsn.com.au/article.aspx?id=7931636&rf=true
According to the article the equivalent of Europe's entire cocoa bean supply was bought by a "British financer". The article also mentions possible cornering taking place. —Preceding unsigned comment added by 114.77.221.122 ( talk) 08:24, 20 July 2010 (UTC)
Anthony Ward is behand the cocoa cornering: http://www.telegraph.co.uk/finance/markets/7895242/Mystery-trader-buys-all-Europes-cocoa.html http://www.telegraph.co.uk/foodanddrink/foodanddrinknews/7897075/British-financier-Anthony-Ward-behind-658m-cocoa-trade.html —Preceding unsigned comment added by 93.104.44.173 ( talk) 12:40, 19 September 2010 (UTC)
The Oil Futures Market-Corner
The price of crude oil started at a lowly $11.00 in 1996, but a full market-mania later, it was trading @$147/bbl in 2008. It was assumed that the oil price was rising due to peak oil or conflict in the middle east, but it had all the trappings of a market-corner in oil futures.
http://www.forbes.com/forbes/2009/0413/096-sachs-semgroup-goldman-goose-oil.html
The Gold Market-Corner
In 1869, Jay Gould and Robert Fisk set about cornering the market in gold. —Preceding unsigned comment added by 173.34.127.10 ( talk) 02:01, 9 August 2010 (UTC)
Thoughts on inclusion?
Slate — Cornering the Market on Essential Drugs
Deepred6502 ( talk) 07:21, 27 September 2015 (UTC)
Wouldn't DeBeers be a good example of a cornered market? I would think that's a classic example. — MiguelMunoz ( talk) 07:29, 25 February 2016 (UTC)
I just deleted this line: One definition of cornering a market is "having the greatest market share in a particular industry without having a monopoly". It already had a "citation needed" tag on it...but it's obviously wrong on its face. After all, in every industry someone has the greatest market share. So are we to understand that every market is cornered? Nonsense. A market corner is a rare and specific thing, and requires more than simply having the highest market share. If 19 firms each have 4.99% of a market and the 20th has 5.19%, that firm hasn't cornered anything...we all know that, right? — Preceding unsigned comment added by 67.6.115.194 ( talk) 02:50, 15 May 2024 (UTC)