It is not a myth. I remember back in the early 2000's, a member of Hot Copper was prosecuted by ASIC (I think) for up-ramping a stock on Hot Copper for his own benefits. It was on the news. I had some posting exchanges and phone chats with him at the time of the dot com bubble.
There is also a multi-billion dollar industry out there up-ramping and down-ramping all kinds of financial assets (the stock tipsters, brokers, merchant banks, financial advisors and the like and that is not counting the con men). How are they going to make a living if nobody listens to them? It appears common sense is not that common after all.
If everyone follows your sensible investment strategy there won't be people jumping off buildings every time there was a melt down.
The sad fact is this world is full of greedy people who are easily influenced.
APG Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held
