RE: Manipulation?8 Mar 2024 08:10
That's a sound post add
But I read a report a few years ago citing successful bidders ending up paying more than their original 'limit'....
How many times have people gone to an auction with a fixed price they would not go beyond but ended up paying more because they got sucked into a competitive auction.
The report concluded that in the end, macho or rationalisation (I.e. manipulating the economic case) produced the end result.
Remember Wyloo embarked on their pursuit with a 23% stake at 17c and ended up paying 110c to trump BHPs final 78c bid...