On Wednesday morning this week, I got a BBM broadcast from two colleagues. They're working at a state-owned brokerage and a private brokerage. In their BBM, they sent me a small part of the story of PT Gading Development Tbk (GAMA), which is now in the watch list of Indonesia Stock Exchange. The story is actually a small part of entire GAMA article that I have written at Bloomberg Businessweek Indonesia magazine this week edition. After copying the part of the GAMA article, he asked me, "is it true?"
As a journalist, the most uneasy thing to do is ensuring the information I got whether is true or not. I did not answer him directly. But I just said my source told me as it is. I did not put any cluttering information just to make the GAMA article look more interesting to my readers. However, during the deal process like a backdoor listing or M&A, sometimes the result is far from the initial plan. So it is the same with the information.
I also aksed him, where did you get the BBM broadcast? He said from the market. For the first time, I was surprised to read the broadcast because I found my name put in the end of the article as well. I am still thinking why the spreader put my name?
As you know, I did not propagate the small part of the GAMA article via BBM. However, I am also wondering that the spreader should read the whole article at Bloomberg Businessweek Indonesia magazine. Thanks to the spreader.
Concerning the question from my colleagues, I can assure that I use the information from my qualified sources. I did not get the GAMA information from an analyst at a securities house or a fund manager. The sources are the same person who divulged me with the acquisition of PT Bukit Makmur, coal mining contractor, by PT Delta Dunia Makmur Tbk (DOID), and many other issues. Being a journalist sometimes is uneasy to gauge the quality and intention of sources. Usually, sources have their intentions to leak the information to journalist like me. However, it also depends on the way they leak the information. If sources easily leak the information, I should be aware on it, especially when the sources are working at brokerages. They work on the supply side. So, all information is sometimes inflated. Everything seems positive as they want the stock price goes up. Contrary, when I got the information from fund manages or buy side. They're always in the negative tone as they want to buy the stocks cheaper.
However, if I got a leakage information after I asked from my sources, I can be sure that the sources do not any intention on it. But, the sources must have a perfect track record as well. If he bullshits me once, no more trust. I also do not have any position on GAMA stocks, If the spreader got gain from the GAMA rally(Rp51 on Monday up to Rp75 on Wednesday)...he must be lucky.