How a hoaxer created sharemarket havoc

How a hoaxer created sharemarket havoc

www.theage.com.au

ONE young man sitting in a forest used a laptop and a mobile phone to temporarily wipe more than $314 million off the value of Nathan Tinkler's Whitehaven Coal on Monday morning.

The Australian Securities and Investments Commission is now investigating the elaborate hoax, in which anti-coal campaigners issued a fake press release and impersonated a corporate affairs spokesman from ANZ Bank.

(visit the link for the full news article)


Related News Links:
www.theaustral ian.com.au
www.smh.com.au
www.brisbanetimes.com.au

In just under an hour the value of Whitehaven coal stocks plummeted 8%. One of the most effective campaigns I've ever seen. Although I question his methods I support his intentions to stop the coal mine development. For it to proceed would mean the destruction of what is rapidly becoming our most scarce rescource. The forests of Australia and the air that we breathe. Whatever you may think of his actions I can tell you that I personally know this man and used to live with him. He's a modest and genuine man and cares deeply about the environment and human beings. I'm proud to call him a friend.

www.theage.com.au
(visit the link for the full news article)

sounds like a good way for someone to have made allot of money very quickly if they bought up the stock at the bottom

financial terrorism to achieve a goal that will NOT change the outcome of the coal industry in australia.

is this the same nathan tinkler who is struggling with financial turmoil already? funding a football club or something?

www.smartcompany.com.au...

sounds like your small thinking clown of a friend may cause untold damage to many other groups relying on money tinkler gets from mining.

how is it cool to do something illegal to decimate a business operating legally?

if the rule of law no longer applies im coming around to your place to take what you have worked hard for.

drongo.

reply to post by twisted-timothy


Brilliant! Totally brilliant!

This is a non violent direct action which really presses all the buttons for me. High profile, high impact, and only slightly illegal (! lol!)

I have a lot of respect for this guy. Lets have some more.

reply to post by okamitengu

financial terrorism to achieve a goal that will NOT change the outcome of the coal industry in australia.

He actually really didn't expect his actions to make an effect on the stock market, the fact that his stunt was so devestating reflects that people are starting to expect businesses to make more environmentaly friendly decisions. Sure there are many people dependant on money from mining, but mining will ultimately destroy the environment completely. Those people cannot decide for the future of the human race that getting money from that specific scource for themselves is more important than reducing climate change and preserving our land.

how is it cool to do something illegal to decimate a business operating legally?

I didn't it was cool in my previous post, but he got the entire nations attention on an important subject with 25 dollars and the stupidity of the media. I know him personally and he's a cool guy. But like I said in my first post I still question his methods. I disagree with his imitating a real person. I allways love a good prank story though and that I'm friends with the activist makes it all the more interesting for me.

if the rule of law no longer applies im coming around to your place to take what you have worked hard for. drongo.

The rule of law most definately still applies dude, my friends, family and artistic skills are what I have worked the hardest for. You cannot have them.

Mehh...

I can't agree that this guy deserves credit. Anybody could do what he did to any publicly listed company. A company's share price is 40% real data and 60% market sentiment. Convince one person in the loop and it will spread through the financial world like wild fire. Just think about all the insider trading we know goes on and you'll realise how easy this is to do.

reply to post by twisted-timothy


Idiot bloke. I hope he gets the book seriously thrown at him. Private prosecutions that find him guilty could potentially mean he will now never be able to own his home (as just one example). Think about it - wiping that much cash out will not simply be dropped or forgotten, the authorities will make an example. My guess is that if he has sat down to think about it, he will be absolutely sh****g himself at the moment.

Action based on principles is a good thing but you really have to be sensible with it.

Good luck to him, but he's gonna be punished.

Originally posted by twisted-timothy
reply to post by okamitengu

 

financial terrorism to achieve a goal that will NOT change the outcome of the coal industry in australia.

He actually really didn't expect his actions to make an effect on the stock market, the fact that his stunt was so devestating reflects that people are starting to expect businesses to make more environmentaly friendly decisions. Sure there are many people dependant on money from mining, but mining will ultimately destroy the environment completely. Those people cannot decide for the future of the human race that getting money from that specific scource for themselves is more important than reducing climate change and preserving our land.

how is it cool to do something illegal to decimate a business operating legally?

I didn't it was cool in my previous post, but he got the entire nations attention on an important subject with 25 dollars and the stupidity of the media. I know him personally and he's a cool guy. But like I said in my first post I still question his methods. I disagree with his imitating a real person. I allways love a good prank story though and that I'm friends with the activist makes it all the more interesting for me.

if the rule of law no longer applies im coming around to your place to take what you have worked hard for. drongo.

The rule of law most definately still applies dude, my friends, family and artistic skills are what I have worked the hardest for. You cannot have them.

well, while i dont agree with your friend, your response is one of the BEST i have ever seen on this site. you sir earned my respect.

and bugger about teh rule of law still in effect!! im looking forward to the day it all falls apart so i can score stuff with just a big stick (;

i also retract the drongo statement. lol

reply to post by twisted-timothy


i could care less if it wiped the whole company out.. it would show how weak the system really is and what fools investors really are. ^^

Just a quick update, Moylan called me this morning and told me that his phone and laptop had been taken as part of the ASIC investigation. He's not under arrest and as yet has not been charged.

Originally posted by ~widowmaker~
reply to post by twisted-timothy

 

i could care less if it wiped the whole company out.. it would show how weak the system really is and what fools investors really are. ^^

So if the company ended up crashing and many many people lose their jobs, is that still fine? If it means families end up in hardship is that still fine?

Sometimes the lack of compassion and, at times, sense on this site makes me shake my head in disbelief.

reply to post by Flavian


/// Little violin

yah even if it means that, don't want to fail because one mans rumors or stunts or the will of some rich elite having a bad day?... Don't trade those peoples lives and families and jobs on the open market, its that simple.


Plenty of business do fine and will never see a market 8op


1928 crash started with a rumor, its called learn from history.