Ann: Update - Consolidation/Split - WBT, page-50

Go watch "The China Hustle" on Netflix and then see how confident you are about the "extremely stringent reporting requirements" and that they are "not able to make assertions to the public that are blatantly false." After all, that multi-trillion dollar set of hoaxes was(/is) happening on NASDAQ, not our humble (and perhaps less stringently policed) ASX.

I'm not suggesting that Weebit is a scam, but I agree we should all be wise to the possibility that it, and virtually every other speculative stock, could be. So standard cautions apply:

• diversification in your portfolio;
• only invest what you can (what you really, truly can) afford to lose.

A non-standard caution I would also add: always welcome the so-called down-rampers - even the ones with obvious agendas or blatantly wrong "facts".

The reason for that last one is that when a group are all expressing the same opinion it is a powerful force that can cause completely irrational behaviour. Having a single dissenting opinion - even if it is completely wrong - helps to break the power of groupthink. Chasing out so-called "down-rampers" runs the risk of creating an echo-chamber of people all remarking on their wonderfully leak-proof vessel while it sinks to the bottom of the ocean.