Oh, there are some good stocks out there that have proven themselves over time. There are risks, sure, but if you look at the long-term charts of the S&P or the Dow, there is a reasonably good return that can be expected from investing in stocks, as opposed to T-bills or something like that. After all, they're businesses, and a good business makes money. But these penny-stock scams just take advantage of that fact, and entice people into their schemes based on their ability to raise unrealistic hopes and expectations. If there were no good stocks, the bad ones wouldn't be able to get people's money.
I'd sure like to see this mess cleaned up, and people like Ed put in jail, or worse. The market would be better for it, and legitimate companies would be better able to get equity financing. For the sake of the economy in general, we need to make examples of people like Ed.
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