• Report: #134564

Complaint Review: Penny Stock Profits

  • Submitted: Fri, March 11, 2005
  • Updated: Sat, March 12, 2005

  • Reported By:Reston Virginia
Penny Stock Profits
Post Box 15196 Montclair, California U.S.A.

Penny Stock Profits Waste of Time--Don't buy any of their recommendations! Montclair California

*Consumer Comment: I lost $$ by buying other penny stock recommendations

*Consumer Comment: Leave the gambling to the casinos

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After 3 months, my paper trades show an annual return of -32%. Worthless!

John
Reston, Virginia
U.S.A.

This report was posted on Ripoff Report on 03/11/2005 03:34 AM and is a permanent record located here: http://www.ripoffreport.com/r/Penny-Stock-Profits/Montclair-California-91763/Penny-Stock-Profits-Waste-of-Time-Dont-buy-any-of-their-recommendations-Montclair-Calif-134564. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Comment

I lost $$ by buying other penny stock recommendations

AUTHOR: John - (U.S.A.)

The other newsletter was "Penny Stock Fortunes" by James Boric. I made the mistake of buying 2 of his recs. And almost as soon as I did, their prices dropped over 50% and never bounced back up! These newsletters give you a false sense of security by guaranteeing a subscription price refund. But you lose REAL MONEY by buying their recommended stocks!
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#2 Consumer Comment

Leave the gambling to the casinos

AUTHOR: Frank - (U.S.A.)

As one who used to play the penny stocks I can easily sympathize. Unlike you, though, my trades were made with real money; and, like you, I had a similar rate of return.

Penny stocks fluctuate in value so quickly (often losing or gaining hundreds of percent within minutes) that trading them is a full-time job. If you don't have the stomach to risk seeing half or more of your investment evaporate in the blink of an eye, penny stocks aren't for you.

None of the stock-picking "guru" services (newsletters, websites) are worth a d**n. You would have better luck if you tacked up a list of penny stocks on the wall and threw darts at it. And for God's sake, stay away from the penny stock chatrooms which are mostly vehicles for the "pump and dump" scam artists.

Notice how the stock "gurus" operate in a manner that's quite similar to the real estate and get-rich-quick scamsters like Russ Whitney, Carleton Sheets, and similar bottom-feeders? The "gurus" aren't making their fortunes from investing in stocks, they're making it off of fools who think there is some kind of "secret formula" for picking stocks.

If you want to gamble go to the nearest Indian casino. Even a slot machine with a 60% payoff is a better bet than most penny stocks.

Penny stocks are called the "turkey markets" for a good reason.
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