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moneymajix

moneymajix

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The mysterious world of stock forums
Jill Fraser - September 3, 2007

Death threats, politics, allegations of insider trading...

Historically the mysterious world of online stock forums is awash with allegations of dark and sinister goings-on and while many today claim to have stamped out practices such as “ramping” and multi-niccing” the reality is that a cloud will continue to hang over all of them until the Australian Securities and Investment Commission (ASIC) takes tighter control.


http://compareshares.com.au/fras5.php
 
"ramping" is something that always confuses me.

When ever a company fails, ie the recent property developer companies, ASIC basically says, the investor should do their own research, and the investment decisions is theirs.

When you see a financial planner you agree that the products you buy, it is your decision to buy them.

So what exactly would ASIC do on a forum. Find a post which is "ramping" up a stock in their opinion and add a message saying that investors should remember that they have to make the decision.

To me the only problem is a poster trying to sign people up to a product and saying (or ensuring) the product cannot be obtained elsewhere.

In the end "Caveat emptor" (buyer beware)
 
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