extract resources technical analysis, page-59

I feel much more sorry for someone duped by the hype of the EXT room over the last few weeks than I do for you just because you lost a bunch of money on paper.

HC has a culture of labelling _any_ negative views of a share as "down ramping". The holders of each share dominate each room and that leads to mostly subtle or overt up ramping and patting each other on the back. I've spent time in rooms of stocks I own trying to get a discussion about the problems of that company, and barely anyone is honest enough to acknowledge the slightest weakness in a stock they own.

To my mind, it's extremely dishonest. The argument that you shouldn't share your opinion unless you've got skin in the game is an emotive argument, not a rational one. It's based on the fear that the truth might cost you money. Yet, if you want to pretend you're a moral person who cares for others, then you should be honest about the shares you own and you should be open to at least some negative perspectives.

Last week the mood in this room was that the share price could never go down. I feel sorry for anyone who got fooled by last week's irrational exuberance, but I don't feel sorry at all for those who irrationally shout down negative opinions/questions all the time (I'm glad those types are hurting this weekend because they're dishonest, irrational, and selfish people).

Z