Picking through stock exchange dividends

IS the market too expensive or could it be too cheap? Many investors will probably have a view, one way or another. Those who think that shares are too pricey might want to sell. Those who think that valuations are reasonable might want to buy. But there is a group of companies that probably doesn't care too much either way. In fact, the more divergent the opinions, the better it could be for them.

These are stock exchanges, where traders and investors go to buy and sell shares. It is also where companies can raise money by selling stakes in their businesses. These exchanges make a turn, regardless of whether traders are buying or selling shares.

So, stock exchanges could be considered possible picks-and-shovels plays on the stock market. In other words, rather than choosing individuals shares to buy or sell, we could, instead, invest in platforms that let people trade shares. It is a way of investing in an industry without having to assume the risks for the final product.