Discussion in 'Stock Market' started by DavidS, Jan 29, 2009.
Just got this e-mail from my broker:
Now look here:
HGUE.OB: Summary for HAGUE CORP - Yahoo! Finance
Stock down .005 in one day. Penny stock. One day. Nice time horizon there.....
You day traders are hilarious.....
Nah, it's just David. He's one of a kind.
I'm currently reading a book by Leonard M. Lodinow entitled:
The DRUNKARD'S WALK
How Randomness rules our lives
Based on what I'm reading there, EVERYONE should fire their brokers because they can no more correctly select stocks than they can prdict the future.
My professor of finance in BU, believed that you'd have as good an outcome throwing darts at the market as paying somebody to advise you what stocks to select.
I loved that guy and might have changed majors, but then he got hired by Harvard.
Up nearly 9% today! w00t!
I'm always reminded of my mother and father at the race track. My father knew every horse, its history, its rider etc, my mother was too busy raising us monsters. So how did she pick horses? She looked at them, and if they looked good to her she bet on them. She usually did better than my father.
I once invested all my money in revolving doors and toilet paper....but before I could turn around, I was wiped out!
When the DOW hit 14,000, I told my girlfriend to get out. Her brokers told her to stay. Of course, they're professionals, and I'm just, well, me. The thing is, when the market was at 14,000, just about anyone with any brains new we were heading toward recession and things were going to get bad; we just didn't know how bad.
Anyway, she kept her stock. Luckily three quarters of her money is in muni's so she didn't get completely destroyed; only lost $200,000. I'd say I have to agree with the idea that these brokers are useless. When the market is good, anyone can make money. Some will do better than others, but if you put some time in, you should do well on your own. The key is knowing when to get out or at least protect yourself.
This looks more like one of those BS ads we all receive in our In-Box telling us about one stock or another that is ready to take off. These bastards send this crap out, and get enough people to buy and drive the price up, then they sell their shares and run with the profits. It's easy to push a penny stock up 50% in a short period of time if you can sell enough people on the idea.
I just checked this stock out. Price went up about 70%, then crashed. Somebody made some money.
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