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Re: newfy post# 6734

Saturday, 02/24/2007 12:00:03 PM

Saturday, February 24, 2007 12:00:03 PM

Post# of 12962
Do you REALLY believe that someone would put $500,000 into a questionable at best ..total scam at worst ..pinkie?

Don't know about the CKYS'ers who claim to have huge holdings, but some retail investors do indeed sink $100K or more into a stinky OTC. A big problem is many folks don't realize insiders often lie or exaggerate. After getting sucked up into touted fantasies, they buy more and more. When the price drops, they reinvest profits or average down instead of cutting losses. Money invested can easily grow to ten to 100 (or more) times their initial amount. I've seen some people file BK and lose marriages, inheritances, retirement funds, etc. over stinkie OTC stocks.

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"We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful."
-- Warren Buffett

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