I went to Buenchico's link. It just said that the common belief was not true. It did not, imo, "debunk it". The fact is that, no matter how well insulated the tank is, it will still lose heat. Some heat will actually go along the copper pipes that will carry hot water when it is needed. The heat loss is proportional to the fourth power of the absolute temperature of the hot body, so the hotter the tank, the hotter the ooutside of the insulation, the faster heat is lost. It's obvious that, when the tank has cooled down to the same temperature as the house, no further heat will be lost. If the myth were true, you would leave the immersion heater on if you went on holiday for two weeks.