
The rush to speculate in the stock market has created victims, and these victims are often easy targets for those who claim to be knowledgeable. This, in my view, is one of the most pressing issues in our society. People exchange information without scrutiny, and we are surrounded by countless pretenders who speak with an air of confidence as if they are economic experts. The result is the loss of capital and, in some cases, the destruction of families.
The state has made efforts to increase the transparency of information, requiring companies to disclose all relevant details and publish them for those interested in entering the stock market. But have those wishing to invest truly benefited from this transparency? The reality is that most speculators don’t know how to effectively utilize this information, as it is often presented in a manner that is unclear to the public and new investors.
One expert I spoke with proposed a simple solution: Offer free training courses. This would provide a sense of security for speculators and hold them accountable for their trading decisions. The stock market, much like any other profession, requires a basic understanding before venturing into it. Just as the state provides education for other professions before employment, it must also teach its citizens the fundamental rules of speculation before they invest their capital.
In Kuwait, the middle class with limited capital has few investment opportunities other than the stock exchange. It is therefore the government’s responsibility to protect them from their own mistakes and from the army of individuals who provide them with misleading information, whether intentionally or accidentally.
How many retirees have been reduced to zero when they lost their savings in the stock market? How many impulsive individuals have borrowed money for the allure of stock market gains, only to find themselves banned from traveling because of their debts?
Following the Souq Al-Manakh crisis that hit Kuwait’s economy in 1982, the government took positive steps to organize the stock exchange. Today, another positive step is needed—one that ensures every speculator has at least a basic understanding of the stock market’s rules. This is what is known as necessity in the field of knowledge. I hope the state adopts this proposal to mitigate the damage done to the middle class, which is the backbone of any society.