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Pastimes : Can SI Members Really Manipulate Stocks?
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To: UDanWright who wrote (3)7/30/1998 4:47:00 PM
From: Henry Volquardsen  Read Replies (2) of 461
 
So called "hypesters" are nothing more than the common investor pre-internet. If I ran accross a company I felt was outstanding, I told others...now it can be done electronically.

With all due respect I strongly disagree. The stock market has always been plagued by hypsters and other charlatans trying to pump up stocks. These individuals have much more in common with 'boiler room' operations and other touts, not with ordinary investors.

It is apparently easier to manipulate a stock from the short side than long.

Disagree. It is much easier and profitable to make money by hyping longs than by shorting good companies. The hype has the natural predisposition of the investing public wanting to believe. If he can connoct a good story he will easily find people who will by into the story. Read Peter Lynch's book 'One up on Wall Street'. One of the things he points out as a failing of the individual investor is that, while he will do significant research to buy a car or other product, he will buy a stock on the basis of a 'tip' from a stranger. This works right into the strong suit of the hypster. The basher has no such ally in the individual investor's character. Convince him a stock is trash and he will just ignore it, not short it. There is much more manipulation of stocks by hypers than bashers.

Henry
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