Penny Stocks
Penny Stocks
Has anyone had any experience with Peter Leed's penny stock newsletter? I read his book Penny Stocks for Dummies and found it informative for individual stock selection.
- Bogle_Feet
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Re: Penny Stocks
Great way to lose all of your money. The only people that have happy things to say about penny stocks are people who are profiting from it all by selling newsletters, books, etc. Here's a better Peter to listen to: Peter Lynch. He said that he was 0 - 25 investing in companies with no revenue but a great "story". That says it all. Avoid penny stocks.
- InvestorNewb
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Re: Penny Stocks
Do you seriously trust penny stocks with your retirement money? I sure don't. Spend some time here and you will uncover the reasons.
My Portfolio: VTI [US], VXUS [Int'l], VNQ [REIT], VCN [Canada] (largest to smallest)
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Re: Penny Stocks
Lol, my idiot friend bought a penny stock at .0001 thinking it couldn't go lower. It then went no bid, did a 500:1 reverse split and he lost all his money. Luckily it was only a few hundred.
Same idiot friend bought another penny stock at .20, this time for about a grand. It went all the way to .85 and he ended up selling at .30. It now trades at .05.
Same idiot friend bought another penny stock at .20, this time for about a grand. It went all the way to .85 and he ended up selling at .30. It now trades at .05.
Re: Penny Stocks
If your goal is to lose money I highly recommend it.
- unclescrooge
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Re: Penny Stocks
The only sure way to make money in Penny Stocks is true insider trading. Don't let a little thing like legality get in your way.
Re: Penny Stocks
We just had a very interesting discussion at our South Florida Boglehead chapter meeting last Sunday by Boglehead Charlie H., a former SEC bulldog, who told true tales of years closing down the most unbelievably creative con-man penny stock frauds and scams. His words of wisdom to us were - DON'T - and don't stray into investments private or unregulated that promise "incredible" big rewards - stick with safe, regulated mutual funds.
Re: Penny Stocks
Here's a question to ask yourself, if he knows so much about penny stocks, why does he need to publish a newsletter? He could sit at home all day, make a few trades and by the end of the year, have more money than Gates and Buffet combined. Run, don't walk, run away.
"The poor long for riches. The rich long for heaven. But the wise desire tranquility."
Re: Penny Stocks
I have some recommendations on Penny stocks. These companies are actually so small that they are pre-IPO. You'll need to wire transfer to my bank of Nigeria account so I can invest for you. PM me for more details.
/sarcasm
/sarcasm
Re: Penny Stocks
Gbean, I took a look at your other posts. So far, you've asked about loaning money to a friend and you have an interest in Lending Club. Now, you're looking at penny stocks (no need to mention any details here).
The reason everyone here is telling you to stay away from penny stocks is because it's simply just not investing. It's gambling.
Let's take step back. I think you're idea of investing doesn't align with a solid, long-term approach. Take a look at the tag line at the top of this forum: "Investing advice inspired by Jack Bogle"
This is how you should invest - build a buy-and-hold diversified portfolio using low-cost index funds.
How? Start here: Getting started
Take your time and do some reading. It's the best investment you'll ever spend - and you can do it for free.
If you don't understand something, just ask.
The reason everyone here is telling you to stay away from penny stocks is because it's simply just not investing. It's gambling.
Let's take step back. I think you're idea of investing doesn't align with a solid, long-term approach. Take a look at the tag line at the top of this forum: "Investing advice inspired by Jack Bogle"
This is how you should invest - build a buy-and-hold diversified portfolio using low-cost index funds.
How? Start here: Getting started
Take your time and do some reading. It's the best investment you'll ever spend - and you can do it for free.
If you don't understand something, just ask.
Re: Penny Stocks
So I take it that no one had read Peter Leed's book. I was hoping for some intelligent discussion.
Re: Penny Stocks
I would avoid penny stocks. My dad dabbled in penny stocks some years ago. He lost a lot of money doing it.
- LiveSimple
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Re: Penny Stocks
Sure go ahead and follow Peter Leeds, come back and report in two years, on your gains / loss intelligently.
Invest when you have the money, sell when you need the money, for real life expenses...
Re: Penny Stocks
lol... this is kind of like the Donald Trump controversies. When in doubt, go double or nothing on your dumb comments.Gbean wrote:So I take it that no one had read Peter Leed's book. I was hoping for some intelligent discussion.
Re: Penny Stocks
I got some free penny stocks one time when I subscribed to a magazine or newsletter. After a year or two, I received a notice from the company that issued the penny stocks that they wanted to buy my shares back. (They were worth about $1.) They said some magazine had bought $1 worth for each of their customers. In order to follow SEC rules, they had to send every shareholder annual reports and proxy statements which was costing them more than $1 per year and they would go bankrupt if they had to service all those small accounts. Since it was better to get $1 than $0, I sold.
OP, What do you think would happen if a magazine did that to the penny stock company you are considering?
OP, What do you think would happen if a magazine did that to the penny stock company you are considering?
A dollar in Roth is worth more than a dollar in a taxable account. A dollar in taxable is worth more than a dollar in a tax-deferred account.
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Re: Penny Stocks
In the UK there are huge tax breaks for investing in start up companies. 50% up front and then if the company goes bust (which many will) the rest of the amount is offset against your incometax bill.
This means that if you invest £1000 the most you can lose is £300 if the company goes bust. I have a little bit invested in these companies as I had a massive tax bill last year due to poor planning on my part.
To be honest, even with the tax relief, I am regreting buying them on impulse now but definitely wouldn't buy penny stocks without a massive tax incentive.
This means that if you invest £1000 the most you can lose is £300 if the company goes bust. I have a little bit invested in these companies as I had a massive tax bill last year due to poor planning on my part.
To be honest, even with the tax relief, I am regreting buying them on impulse now but definitely wouldn't buy penny stocks without a massive tax incentive.
- abuss368
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Re: Penny Stocks
Hi Gbean,Gbean wrote:Has anyone had any experience with Peter Leed's penny stock newsletter? I read his book Penny Stocks for Dummies and found it informative for individual stock selection.
Many years ago we gave up trying to beat the markets and our subscription to stock picking newsletters. More times than not, the newsletters were wrong and filled with bad financial "advice".
We simplified everything with total market index funds from Vanguard and this has worked well. We are thankful for the simplicity and results.
Keep investing simple.
John C. Bogle: “Simplicity is the master key to financial success."
Re: Penny Stocks
Penny stocks?
The name alone is unappealing
The name alone is unappealing
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee
Re: Penny Stocks
I am done with penny stocks many years ago.
Re: Penny Stocks
I dabbled in pot penny stocks a year and a half ago when they were hot.
A lesson was learned, unfortunately just slightly less quickly, then a few thousand were lost.
A lesson was learned, unfortunately just slightly less quickly, then a few thousand were lost.
Re: Penny Stocks
You're just on the wrong forum. You will probably find limited discussion of other topics here, such as day-trading.Gbean wrote:So I take it that no one had read Peter Leed's book. I was hoping for some intelligent discussion.
It's not an engineering problem - Hersh Shefrin | To get the "risk premium", you really do have to take the risk - nisiprius
Re: Penny Stocks
As I noted in my previous post, this forum does not follow penny stocks for the reasons given.Gbean wrote:So I take it that no one had read Peter Leed's book. I was hoping for some intelligent discussion.
I hope you'll consider the Bogleheads® investment philosophy. If not, there's nothing more that can be said, as the opinions here are not changing. No added value can be added to this discussion, as it's trending towards an unproductive path.
That being said, this thread has run its course and is locked (topic exhausted). See: Board rules
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