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There was, and will only ever be, one Jaspal Bhatti. I could spend the next thousand words explaining the mechanics of a pump-and-dump scheme. Or you could watch Mr. Bhatti do it with infinitely more style in under six minutes.
This video should be mandatory viewing for all new entrants to financial markets. It’s a shame that there are no subtitles, because its appeal is both universal and timeless.1
Back in school, our mid-term papers would be graded and returned to us to take home. After one result, a friend of mine took a red pen and deftly changed his marks- from 38 to 88.
I was puzzled. For one, that’s quite a leap from 38 to 88. Hardly believable. For another, the actual scores of all subjects would be collated into a marks card, which would be handed over to his parents during the PTA meeting. He was going to be outed anyway.
What was the point of this forgery then?
Turns out, my friend had been promised a bicycle if he exceeded 70 marks in Math. OK, but what happens when they find out, I asked. His answer has stayed with me even after all these years:
“What are they going to do- Return the bike?”
In unrelated news, this is the most volatility the Indian stock market has seen since the COVID collapse in March 2020.
Stick around till the end for the hilarious credits, which were a signature of the show Full Tension.
OG Jaspal