Oy! Not him again.
Which is he? All three, maybe?
According to the SEC's 2016 white paper, retired, low income and less-educated investors fared the worst with penny stocks. The agency analyzed 1.8 million trades by 200,000 investors, finding that the typical return is "severely negative."
You can lead a horse to water. But you can't make him get down on one knee and do an Al Jolson impression!