Mitzu I doubt there will be an investigation. Here's why:
- As per the AFR article Fib's post has been identified as the likely catalyst for the hype - Fib's post disclosed that he is a holder, it was his own analysis and was not financial advice (He is not likely to get into the same sort of problems that Rivkin did based on his disclosures) - Reading Fib's original post it was clear that it was his interpretation of the publicly available facts. He is not trading on inside info etc.
I agree with Flux - people need to get away from the idea that if people lose money through their own poor investment decisions when all the facts are available to them the regulators need to step in. The ASX is an open market and if you choose not to use a broker and follow your own instincts then unless someone has made deliberately deceptive statements then you only have yourself to blame. We certainly don't need some nanny state where the regulators have to investigate every time a share spikes or tanks - otherwise it is no longer an open market
My golden rules: - Always DYOR and don't get sucked in to the hype - Say goodbye to your money when you click the buy button. If you can't afford to or can't face saying goodbye to that money then I suggest something a little more capital stable than shares. If you can't acknowledge and accept the risk then you shouldn't be here - If you lose your money then use it as a learning experience and don't make the same mistakes next time - Don't fall in love with a stock - learn to accept selling for a loss if there are better options
PSY Price at posting:
2.8¢ Sentiment: None Disclosure: Not Held
