After ministers, state secretaries and guests at the opening of BSE sessions, who had expressed their support and endorsement to the institution, Dinu Patriciu didn’t conform to the pattern of these meetings. In a relaxed manner, the Romanian tycoon criticized the local exchange and made propositions that brokers welcomed.

“At BSE, there is only the opportunity of losing cash”

Dinu Patriciu has repeatedly expressed his opinion toward the Romanian capital market.

When the first signs of financial crisis came in early spring last year in the western countries, the businessman said he didn’t trust the Romanian equity market, heralding a 70% slump.

In March 2008, Patriciu said he didn’t have confidence in the Romanian exchange, being accused by the brokers that he planned to take full control over the stock market.

Yesterday, as a guest of honor at BSE, as part of the “Personalities ring opening bell” program, Patriciu criticized the market as well as the institution, stressing that the only opportunity that the market offers is that of losing cash.

“For the time being, at Bucharest Stock Exchange, there is no other opportunity but to lose money. It is impossible to win in a highly volatile market and extremely narrow liquidity. If it doesn’t increase in volume, it will remain a non-liquid lottery”, said Patriciu.

In order have profit, you must have the ability to forecast the future performance of the market, but BSE is very unpredictable. “You have to be a coffee fortune teller to take profit from the stock market”

BSE’s only chance to survive is to shift into a regional exchange, and to have blue-chips from the Balkans, Patriciu continued.

By adopting a structured marketing approach, the stock market will be able to attract large enterprises from retail to IT. But it requires other measures, such as a transport netw