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Medicsgirl | My Husband is obsessed with trading 'penny' stocks....? |
Is it worth the money and time that he's putting into these stocks? And now he wants me to invest as well! |
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MadMoney
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First off, there has not been a response yet by an actual trader. The responses thus far are by an under-educated group, financially.
"Penny Stocks" are more risky, yes. But with added risk comes the added potential return. It is often argued what constitutes a penny stock--the debate still carries today amongst institutional and academic variety. But a commonly accepted definition is any stock below $5 per share. Here lies a problem though because some stocks fall into this category that are billion dollar companies: AMD (close at about $6), SIRI, LVLT, THC, RAD. Now if you're husband is trading stocks that are the $0.005 variety, that is a different story. In that situation, there usually isn't much company value (intrinsic value) to rely on other than to manipulate the market value of the companies (or exploit).
To answer your question: it depends. If your husband has found a niche and is doing well, yes you should join. After all, even though many lost a lot of money with penny stocks, others have made a fortune (I know quite a few). But never risk money you can't afford to lose. Because there is little to no intrinsic value in these companies, it is more or less a gamble to indulge in trading penny stocks. Even many varieties of technical analysis fail in determining trends because there is such illiquidity and manipulation by market makers, so tread carefully. |
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Wes
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There's a reason why they are "penny" stocks.
Your husband will just have to learn his lesson the hard way. |
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jebediabartlett
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If he can show you that he has week in and week out made respectable profits...then humor him.
It can be done...but it takes real planning, access to daily charts and info ( while trading) and rigid discipline...besides total attention and devotion every minute the market is open and you have something on the line.
A much better approach for YOU...if he insists on seeing you invested...is to take a different tack and buy small lots of one, two, or three companies or ETF's and compare " percentages" after about six months. ( I'm thinking, if you buy a little PBW...or some EWH... you could very well out pace him over 6 or 9 months.) |
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$so fresh so clean$
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Nooooooo!!!!!!!!!!!!! He's also obsessed with big tax bills too I see. Don't do it! Penny stocks are too speculative and their isn't enough history behind them to stand on. Consider this: You invest only $5 in a penny stock. If you lose the whole $5, sure, its only $5. But that's also 100% of your investment gone! Just think about $1,000 invested in these things. Low-cost, proven mutual funds are way better. |
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richard t
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the word ''sucker'' comes to mind.......... |
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mdd53184
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I have a degree in finance and work for a huge financial company.c Penny stocks are $5 and below stocks. They are worthless and you will lose money!! Better off going to Vegas. A lot of these companies take the money and run. He needs to do a lot of research first. With our company we are not allowed to recommend penny stocks. You can always email me for any advice. |
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BooRadley
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When they say "chose your battles", this a battle to chose. If he is hard-headed, you will have to back this up with book print or something he'll believe. This is basic gambling and you can see that any well-known financial talk show or writer will point this out. Is you looked up these companies, they would have enormous debt or very little assets, basic pipe dreams. |
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Vamshi K
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You can invest through Reliance money, which is more secure and can also gain profits. Start with large investment with more profits. |
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v b
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There's an old joke that fits.
How do you make a small fortune trading?
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Start with a large fortune. (Be warned, losses above $3000 a year get carried forward until you can either use them or you die. People die all the time with capital loss carryforwards that they don't get to use. ) |
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Jeff
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Penny stocks have less regulations than the major exchanges and are RISKIER. Especially if you don't know what you're doing. They aren't the place for long term investing for sure. Let's not for get that 95% of traders lose money every year.
As a financial registered representative, legally, I would have to warn my client about the risks involved in the "pink sheets"-- including poor liquidity, less regulation, less following and are therefore more volatile. |
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