That post sums up why my wife don't want to put our savings in penny stocks. Believe me, I was thinking about it as I was infatuated with the big "gains" people brag about.
I play with a relatively small amount ($75 every week). That way, I can play the penny slots, I mean stocks, if I want to without breaking the bank. The wife is happy because we continue to build our savings and she knows that reserve won't be played in the market. The wife doesn't flinch at $75 a week but $1000 is another issue.
I did make the mistake of taking a loan for 10% of my 401(K) and playing the pennies. Yup, I lost the cash in penny investments. That won't happen again and of course, it makes the wife even more vigilant against me playing more than $75 a week in pennies. Even if I "hit the jackpot" in pennies, $75 is the limit on my play money.
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