There's no myth. The only way to lose weight or to remain healthy is eat less and exercise more. You can eat as much as you want as long as you burn it off though a poor diet will have other negative effects on your health in the long run.
I have seen many people who believe that if they exercise a lot, they can eat anything they like and will always remain thin. My own friend who is overweight exercises for almost 5 hours but then has pizzas every weekend which ruins her diet.
It's not necessary to eat less but it's necessary to know what to eat and what to avoid. Too much of oil, cheese, butter and fats cannot be sonsumed and it's better to avoid them rather than to get addicted to these food stuffs.