11.11. Notes
[] Corners and short squeezes, including various railroad manipulations by Cornelius Vanderbilt and others at the turn of the twentieth century, represent another form of manipulation through scarcity as opposed to redirecting people's beliefs. This chapter focuses on manipulations based on false information of one type or another.
[] The real cost of trading is the difference between the price at the time you decide to trade and the total price at the time you actually trade. Commissions are usually the smallest part of this. Market impact and the opportunity cost of delay far outweigh the commissions. See the discussion in Chapter 5.
[] Joseph de la Vega, Confusión de Confusiones (New York: John Wiley & Sons, 1995), p. 169.
[] Confusión de Confusiones and Charles Mackay's Extraordinary Popular Delusions and the Madness of Crowds (another of the FT editors' top 10) are published together in the Wiley Investment Classics Series.
[] De la Vega, Confusión, p. 203.
[] The URL at the time the article was written washttp://messages.yahoo.com/bbs?action=m&board=18185330&tid=wgat&sid=18185330&mid=16909. However, this guide seems to have wisely been removed.
[] De la Vega, Confusión, p. 199.
[] Peter Wysocki, "Cheap Talk on the Web: The Determinants of Postings on Stock Message Boards" (Working Paper No. 98025, University of Michigan, 1999).
[] Tokyo Joe eventually settled with the SEC, paying $748,000 in fines but not admitting guilt. Gretchen Morgenson, ...
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