In today’s regulatory environment, it’s virtually impossible to violate rules … but it’s impossible for a violation to go undetected, certainly not for a considerable period of time.
The person that is buying a share of stock is convinced he knows something that the other person who’s selling it to him does not know. There’s no zero sum game in Wall Street.
You had a lot of novice investors who got into the market looking for easy money, without any regard to the fundamentals. These stocks were running on fumes.
