This is untrue. Algae is a living spore that will stick to any pool surface wether it's epoxy paint, rubber paint, ceamic tile or marbelite, unless you have 2 ppm of free available chlorine in the water, then it won't grow.
When buying epoxy paint, get the good stuff that comes in 2 parts with a catalyst. Here in Toronto, the quality paint is almost $100.00 a gallon but you won't have to paint again for 6 years. Prep work is essential!
Firstly, drain the pool (duh), give it a muriatic acid bath at 50% strength, drain that, then give it a TSP (tri sodium phosphate bath), rinse, drain, let dry, start painting from the deep end to shallow (duh). You need 72 hours of no rain for it to cure! Painting outdoor pools is tricky. In a perfect world, you should do it on an overcast day with no chance of rain for 3 days. Straight sun can make the epoxy blister.
Good luck!
Steve (Crystal Clear Pool Services)