Ann: Proposed issue of securities - SPX, page-34

@qqqqqqqqq

How to beat Wall Street. You buy. And you hold. You hold forever. You never, ever sell until your thesis plays out. If the stock drops, you should be thrilled. You can buy more at a cheaper price. You should laugh like an invincible warrior facing down an army. You want this stock? You want MY STOCK? Then you’re gonna have to kill me and dig up the cemetery because I am taking this stock to the grave. If you hold on to your shares, Wall Street can never own them.

This will frustrate them. If enough investors buy and hold a stock because it’s a great company with great growth prospects, then the vampire squid will move on. Wall Street’s biggest weapon is fear. Fear in the face of an uncertain future. If you sell, they win. If you hold, you win.Don’t let Wall Street steal your gems. '''

At the time I knew this would come back to bight him.
In a period of dropping price, a lot of pampers like to think the "sinister cartel" are coming to get their shares.... as it strokes their ego and satisfies their need to be right.
Once you actually convince yourself it is true, you are no longer a rational investor, and it all goes downhill from there.