Just to get it out the way for good. My original post was because of the exaggerated remark at the end, and that was compounded by the fact that the previous day YD kept stressing on price rise due to derisk, which whilst I see and tend to agree with his point, it didn't mean it is inevitable.
But it is couple of things stick to my mind and yells out to me when I see hype. Firstly in 1999 or so, computers, and internet, were relatively new to me and HC was in it's infancy. I'd bought some shares in a company called LibertyOne. They'd done a deal with a company where they swapped shares. Pretty pop in the dot-com days. Anyway this other company listed on the Nasdaq and from an IPO price of $15, traded over $60. I'd bought L1 solely for this purpose and always intended to sell at that time. So in my excitement I started a thread on HC entitled "Liberty to Fly". It caught on with a frenzy and by the time the market open I sold for an even better price than I'd hoped. Later I wondered if that thread caused some to buy and lose money due to my excitement. It is horrible to make a profit in such circumstances. LibertyOne never traded higher and a couple of years later went into oblivion.
The other case, is a few years ago, my grandson, who had just started work got a tip from a mate to buy some shares. He asked me about them. At that stage they were poison. Nevertheless, hype from HC and his mates caused him to borrow a few thou from his mum and purchase them. They hype caused them to bag about 5* before also going into oblivion. He fell in love with them and lost all. (Don't feel sorry for him though. He's held APT since mid single figures and ridden the ups and downs).
There are other instances, of course, but I hate to see anyone lose money over hype. Of course I understand it's part of the game. Remember, shares, unlike ETOs and futures etc. can be a win- win.
KSS Price at posting:
86.0¢ Sentiment: Buy Disclosure: Held
