Penny Stock???

[Bigbirdoffroad]

Had a buddy of mine make a bet with me and were going to put the wager in penny stock but I don't know a damn thing about them. Anyone have some good investing advice for a couple of newbie investors?

[ghost9mm]

Yeh !!! Don't...

[SamuelG]

Run!!

If its a small amount for fun, then just take a guess. Go for some medial company waiting for approval.

RUN!!


SamuelG

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[KyNola]

Yeh !!! Don't...

I am a recently retired banker with 39 years experience.  Take Ghost9mm's advice.  Don't!!!!

[rigstar]

its like going to vegas, i think of it as money already gone;lol
and if you hit one then its a bonus.
if its a small wager, why not, but do a little research into a few companies
if you have time and then pick one.
what samuelg said is good or try a commodity company(gold,silver,oil,gas,etc)

good luck with your bet!!

[Bigbirdoffroad]

Well the thing is, my best friend and I want to quit smoking (not meat). We're putting $100 each into a "pot". If one guy starts smoking the money goes to the other guy. If we put the money into something that might gain a proffit, that would be great. Hell, even it I stop smoking for two weeks I already made the $100 back in not buying smokes.

[squirtthecat]

Heck, that sounds harmless enough!

Just don't start moving your 401K into one.....   ;)

[GusRobin]

the problem with the thinking is that penny stocks are low percentage in getting a profit. Give it to charity and the winner get the tax write-off. You probably end up in a better financial position.

[SouthernSmoked]

the problem with the thinking is that penny stocks are low percentage in getting a profit. Give it to charity and the winner get the tax write-off. You probably end up in a better financial position.

Ditto!!

[Quarlow]

Better yet send it to me and I will send you pics of what i spent it on. I won't charge you for the pics but you can frame them and see that your money didn't go to waste.......ok well it was worth a try. LOL

[GusRobin]

better yet --instead of $100 in penny stocks. Change the bet so loser buys a large brisket from Snake Farms or other such place.

[Bigbirdoffroad]

Gus, if the looser has to buy a brisket, it would still be eaten together so there would be no incentive. I like your thought process!!

Quarlow, I'll give you the $100 as long as you buy me $150 worth of parts for my Bronco and I'll show you pics of them installed!!! ;D

[GusRobin]

Gus, if the looser has to buy a brisket, it would still be eaten together so there would be no incentive. I like your thought process!!

I didn't mention anything about sharing with the loser ;D

[Quarlow]

Gus, if the looser has to buy a brisket, it would still be eaten together so there would be no incentive. I like your thought process!!

Quarlow, I'll give you the $100 as long as you buy me $150 worth of parts for my Bronco and I'll show you pics of them installed!!! ;D

Uh ya no. But nice try there. :P

[Sailor]

Take the money that you have in the pot and purchase some silver or gold.  When we hit hyper inflation (which we will) it will be worth lots more than you paid for it.  Gold and silver is the place to be.  In 2009 I converted my 401K into all Gold at $900 an ounce.  People said I was crazy.  Spot Gold is at $1,723 an ounce as I write this.  $2,500 per ounce is coming soon and I would not be surprised to see it at $5,000 and ounce.  The dollor continue to lose value and will be replaced as the world's currency.  Stay out of stocks!  Going back into my corner  :o