Talk:Cornering the market

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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:

Did you know... that the Great Salad Oil Swindle was an infamous attempt at cornering the market?

A record of the entry may be seen at Wikipedia:Recent additions/2004/July.

Wikipedia

Disagreements

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)[reply]

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)[reply]

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)[reply]

Trading Places – not a good example

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)[reply]

I'd be very happy if you were to remove the reference. Debate 木 22:53, 13 August 2008 (UTC)[reply]

Why it fails

This article could do with a better explanation of exactly why this is a risky proposition. Hixie (talk) 09:30, 30 August 2008 (UTC)[reply]

Good suggestion. If you have the time to scratch something together please be bold and add it. Debate 木 09:43, 30 August 2008 (UTC)[reply]

If I knew the answer, I would! Hixie (talk) 08:21, 13 November 2008 (UTC)[reply]

RuneScape

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)[reply]

Porsche vs. Volkswagen

Article: "During the Financial crisis of 2007-2010, Porsche cornered the market in shares of Volkswagen, gaining an estimated 6-12 billion Euros. Porsche claimed that its actions were intended to gain control of Volkswagen (which they did accomplish)"

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:

23 July 2009 "VW prepares to take over Porsche" http://news.bbc.co.uk/1/hi/business/8165524.stm

“ The latest move comes after Porsche's chief executive Wendelin Wiedeking and financial director Holger Haerter had resigned "with immediate effect".

Mr Wiedeking had failed in his long-running attempt to take over VW, despite Porsche building a 51% holding in the company.

Porsche had hoped to build up a 75% stake, but the financial crisis and the slump in the global automotive sector put paid to its efforts, which in the end saddled the sports car maker with huge debts. ”

23 July 2009 "Porsche CEO Wiedeking Resigns" http://www.spiegel.de/international/business/0,1518,637760,00.html

•Λmniarix• (talk) 13:59, 2 July 2010 (UTC)[reply]

European Cocoa Beans

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)[reply]

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)[reply]

Oil futures market-corner/Gold market-corner

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)[reply]

Martin Shkreli and the pharmaceuticals market

Thoughts on inclusion?

Slate — Cornering the Market on Essential Drugs

Deepred6502 (talk) 07:21, 27 September 2015 (UTC)[reply]

This isn't an example of cornering the market. Cornering the market would be going out and buying up large stocks of the drug with the intention of causing the prices to go up. Mr. Shkreli's company purchased a patent and decided to sell it for a much higher amount. Shereth 20:52, 2 December 2015 (UTC)[reply]

DeBeers

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)[reply]

anon

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)[reply]