No. of Recommendations: 0
My dumbest investment, if you can call it that, was to listen to a cold-call from a broker. I remember that I knew so little about stocks at the time that one of the guys from the brokerage had to explain to me what a bid-ask spread was. I just blindly followed the advice of the broker and eventually lost all the money I put in (the one smart thing I did in the midst of this stupidity was that I only sent in money that I had earmarked for speculative purposes) and I deserved to lose that money.

Some time after this I began taking classes for my MBA and became considerably more knowledgeable concerning investing and business in general. The next time I got a cold call, I said "Send me the latest 10K, 10Q, quarterly, and annual report and if I like what I see, we'll talk". Needless to say I never heard from the guy again.

Greg
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement