I was riled by a piece of nonsense from Shares Mag yesterday and will post this on other boards to test the reactions!
They looked at four ofex companies, two that virtually never trade, one that is a 'dog' and one half decent company. The conclusion was what really got under my skin - wait six months before investing.

Bullsh*t.

There are still a few concerns. If you don't like AIM or small caps you won't like Ofex. Fair enough, but if you like AIM, Ofex is every bit as good.

OK let's deal with the 'why not yets'.

1) Spreads remain too large in some cases. Yes, that is true and often because of the iliquidity, which is another concern. But it is no worse than for most AIM stocks. If you like AIM there is no reason not to like Ofex too. One of my favourites GSC Property floated on a 38-43p spread. it now trades on 183-188. Success is rewarded with a narrower (or in this case lower percentage) spread.
But Ashley House is unfairly treated on a 10p spread of 63-73p, despite the fact 3 million shares have traded in recent days.
2) Illiquidity. Touched on above, yes still a concern. But again similar to AIM, about 1,000 - 5,000 pounds depending on the stock can usually be traded within the spread.
3) Lax reporting regulations. Slightly lighter than AIM, but in practice the decent companies do report well above the minimum requirements and in line with AIM stocks.
4) About two in three stocks rarely trade and while there might be one or two nuggets, it is the more traded stocks imho where the best bargains still lie.

Now the 'whys'.

1) Electronic trading has changed things dramatically. (A few still will only do it on the phone). Squaregain for example trades most Ofex stocks online. And it has led to some improvement in liquidity.
2) More persuasively, about one in three Ofex stocks (again better than AIM imho) are worthy of serious consideration. And some are not covered by any analyst, so you really do have a unique chance to find that undiscovered share. Now, not in six months when it is higher.
Here are some examples and www.ofex.com is a great starting place.

Associated Network Solutions is up 500% from the lows, followers believe it has further to go. Ashley House is doing even better, up around 600% from its lows. Guiness Peat have just bought 3 million shares and clearly think the rerating is just getting under way.
If you like value try Alba Trees, rarely traded but just reported 4.8p eps at interims with a bullish second half outlook. Share price 60p.
There are even a couple of gambling stocks to take your fancy. Waltech up from 10p to 37p has an 8% stake in Trident which is aiming for a 100 million float next year. With a market cap of 7 million their other investments are in for free, or Betex which is cornering the Chinese lottery market.
Shellmeister Michael Edelson is back (anyone remember his Knutsford was supposed to be buying Marks and Spencers, marked the top of the bubble market last time. Not my cup of tea, but what is he up to this time??).
More dependable stocks include Adnams and Brakespear from the brewing sphere - both at all time highs - and Rangers and Arsenal from the footie world!
Vicorp is a telecom potential 'wonder' stock with C+W and Bell Canada already having placed big orders, while more sedately GSC Property floated at 40p under two years ago, but is now 180p and still below nav. One broker is forecasting 42p for myhomes, up from 5p to 14p so far.
There's even a smattering of miners. Franconia recently moved to AIM and has done well but beowulf has not.
And finally you could have bought Daniel Stewart shares for 3/4p two years ago on ofex. Last time i looked 13p on AIM.

Why wait, visit Ofex now and find yourself a bargain! Sorry if it sounds like an ad, but i really do think it is time to get involved!