Sir - I read with interest in your excellent online publication, that the failure of the Telecom shares issue to make many individual shareholders substantial short-term gains is causing concern.
The suggestion that future Irish issues may be considered less than attractive is probably correct if amateur investors are encouraged to beg and borrow funds to play "roulette" in the domestic stock market - a game that is not commonly played by "the man in the street".
While I have sympathy for the punters who are back to about par value in the £3 range, how about the "suckers" who bought the issue in the US at $20 (€18.25) and are looking at a close this week of $16 and dropping.
The next Irish issue to hit the NYSE (New York Stock Exchange) will certainly be treated with more scrutiny and less patriotism.
Playing the market is a more common pastime in the US for the average Joe, and the opportunity to own Irish stocks is attractive to the many Irish residing in the States. May I suggest, however, that we will stick to Elan and Smurfit Stone Container when the patriotic sentiments kick in on future trades.
Robin Latham, Campbellsport, WI, USA
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