Originally Posted By Mr X lol...that depends. Do I get 8% of any money you make off it (up to and beyond 1 million?)?
Originally Posted By SuperDry And if I ended up talking anyone out of this scheme, my fee is only 8% of what you would have lost.
Originally Posted By Dave I just heard a sad story from my cousin this weekend. He is in the carpet business so he knows stuff about his trade. He asked his stock broker to invest in a padding company he know about. The shares were down to .05 cents per share. He asked broker to buy 2000 shares since it was so cheap. He broker told him the company wasn't doing good and it would be a bad investment. Well now the shares are up to $6.00 a share and I have one upset relative. You guys can do that math.
Originally Posted By Mr X If he was in the business and had info, he shouldn't have asked for his brokers advice in the first place. If he believed in the company, he should have trusted his instincts. Heck, it would've only cost a hundred bucks anyway, not much of a risk even if it DID turn out to be a bad investment! I wouldn't blame the broker, since IN GENERAL penny stocks are dangerous and can be very difficult to sell off when they crash (I own a couple myself, but I consider them to be "lottery tickets"). If I were a broker, I'd most likely advise against any penny stock investment UNLESS somebody knew a lot about the company they were buying like your cousin. In any case, if your cousin still believes in the company why not go ahead and buy now (maybe not 2000 shares though lol). It could always go up from there if the company is expanding and successful. Great story though Dave, thanks for sharing (a good reminder too that you should follow your gut if you believe something to be worthwhile, even if others, even so-called "experts", tell you not to).
Originally Posted By Mr X p.s. Dave, sorry if it sounded like I was slammin your cousin, I definitely didn't mean it that way. One more point I'd like to make, and that is I wouldn't trust the advise of anyone else, even a broker, unless you really, REALLY trust them and think they know exactly what they're talking about. All the research I've done on the stock market so far has taught me that many, many of the so-called experts have no more of a clue than anyone else as to what will happen. Proof of THAT can be seen from the majority of mutual fund managers who can't manage their funds well enough to even maintain an above average return! In other words, it's a crapshoot.
Originally Posted By Dave The guys been his broker for 20some years. Just a bad call on his part. I said yeah but you wouldnt have cashed it in and that you would have waited till it got to 10 bucks a share and then they could have closed up shop and you would have lost it anyway. Positive thinking person I am!
Originally Posted By Mr X lol. Personally I am a believer in "taking some off the table" at some point. DEFINITELY if your 100 dollar investment turned into 12 grand, I would advocate cashing in a thousand or two, and maybe let the REST ride to see where it goes (but setting up stops so if it drops by 20 or 30 percent you still come out way ahead).
Originally Posted By SuperDry <<< Hey! It's not a scheme! >>> I meant "scheme" in the British sense of the word (which carries no negative connotation)!
Originally Posted By TomSawyer >>All the research I've done on the stock market so far has taught me that many, many of the so-called experts have no more of a clue than anyone else as to what will happen.<< There might just be a valuable lesson there for you, Mr. X. Good luck on your 10% a month return.
