Mar

26

I'm really enjoying Supermoney by Adam Smith, republished by Wiley. I question, however, some mention of the Bank of International Settlements.

Smith wrote,

 "The stock of the bank is held by the member governments: the United States, Germany, France, Japan, Italy, and so on. Every once in a while there seem to be a few stray shares floating around, and so there was this day. For something like $1,100, I bought one share. Then the stockholders were the United States, Germany, France, Britain, Japan, Italy, and Adam Smith."

Upon reading that passage, I scrambled to see if I could buy some shares. But I read on the Internet that the public shares were forcibly bought back from private hands. Can anyone provide color on the performance of the BIS shares whilst held by the public? Were they a home run, just a steady performer, or a slow mover? More important, are there any similar organizations with small and obscure share offerings?


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