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    itechx's Avatar
    itechx Posts: 1, Reputation: 1
    New Member
     
    #1

    Feb 20, 2007, 09:54 AM
    Penny Stocks
    What are some good penny stocks that I should invest to?

    Thanks for your help in advance
    RubyPitbull's Avatar
    RubyPitbull Posts: 3,575, Reputation: 648
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    #2

    Feb 20, 2007, 10:19 AM
    itechx, the first rule of thumb in investing is not to take advice from unknown sources.
    You quite could lose all your money in a matter of moments.

    The best thing you can do for yourself is to do as much research on penny stocks as possible. Ask people you know and trust, if they have any financial advisors that have done a good job for them, and if they would recommend that person to you. Then, talk to these people.

    If you don't know of anyone, then do an engine search on investment companies. Call them and speak to them. Ask for their annual return reports. Ask for a published report on which penny stocks have been consistent in their returns.

    You may want to go to the a bookstore or stationery store and pick up some resource guides. Books about penny stocks, Money magazine, Forbes, The Wall Street Journal. This takes a bit of leg work and time, but you have a better chance of making money if you arm yourself with materials that make you a well informed investor, then taking a chance on someone on a forum that you do not know.
    ordinaryguy's Avatar
    ordinaryguy Posts: 1,790, Reputation: 596
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    #3

    Feb 20, 2007, 11:07 AM
    If you want to gamble on the chance that you might suddenly get lucky and rich, play the lottery or go to casinos. If you want to invest for a secure financial future, stick with the basics--stocks of well-established, well-run companies, stock and bond market index mutual funds, treasury securities, and the like. Unless you're willing to spend a lot of time, effort, and money on research and information gathering, the chances are very high that you will lose big-time by investing in penny stocks based on "tips" from devious strangers, or even well-meaning friends.

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