Let's just summarise this. You called a random person on the internet a liar, based it on some made up statistics that most people are idiots that buy stocks at the peak, are unwilling and unable to provide a single shred of evidence to back that up. Your "logic" assumes that the majority of people watch a stock go up and up and up and then low and behold, they throw the majority of the money at a stock at its peak that then gets dumped. Sure it does happen but to assume this is the norm, or that it's "most people" is absolutely absurd.
It's far more likely that people buy stocks at various share prices. The hotcopper and asx_bet noobs are likely to buy, buy some more as it goes up, and keep buying because of hype and FOMO (see BRN). All this does is increase the average price, because clearly they are making money on all they shares that they are holding that is going up. Then if it drops they could end up losing the profits and more. This is far more likely than your scenario that is highlighted in bold. Another bad move by noobs is to blindly hodl and average down... Again, that doesn't imply they are throwing the majority of the money at a stock at its peak.
APT Price at posting:
$69.03 Sentiment: None Disclosure: Held
