Why did he not do any due diligence before buying? It's not like he had FOMO he was going to miss out. That's the part I don't understand in all of this.
No idea, but he seems like the kind of guy whose ego can't suffer from the embarrassment of being called out. It wouldn't surprise me at all if he did all this just because he was incapable of losing face for acting like an idiot. Joke's on him though.