Funny you say Tibbs used and abused his crowd but I don't think...

Funny you say Tibbs used and abused his crowd but I don't think it was the case. He truly did believe in BMN's story as did alot of people here.
As for these 'newbies', it wasn't a case where the market was 'tricked' (or Tibbs tricked us) when BMN was trading at exorbitant levels (in hindsight). It was more a case where BMN had everything going for it except for one big risk that everyone chose to ignore, that being the potential for the spot price to fall. Let this be a lesson as to the psychology of the crowd during a speculative boom; what can be seen as obvious risks in hindsight tend to be completely ignored at that point in time. I also lost alot of money on BMN, but not as much as I could have lost, having sold out around the 80c mark from memory.