Nah I don't believe people take it so far to risk their retirements there.
Oh, they do. They did on CMKX, PCBM, CSHD, SLJB, SPNG and many others. Among the results--apart from large losses--were divorces, bankruptcies, and even suicides.
More recently, there was the Monk's Den mess. Monk assured many people that they were his "family", and that if only they bought and held, they and their children and grandchildren would be set forever.
There seems to be an inexhaustible supply of newbies.