As ART said..trading penney stocks, you might hit a winner one out of ten tries. If one does hit, you can make a pretty big pile quickly, but you must sell at nearly the peak right time to do it. Wait very long, and the PPS will tank on you for sure.
He "made" a lot of money off LOCH because he bought at a few cents, and sold on the dump. I dunno if he had some inside info that told him to sell at the right time or not. At any rate, LOCHs jump from pennies to nearly six bucks happened very fast, and the fall was quicker still.
One can always look backward and see ops that they missed. They can always also look back and see a quite a few that they started to put money into, and were later glad that they did not. And a few that were "sure fire winners" that they did put money into, and lost it all.