No. of Recommendations: 0
This 2 bad investments will top just about anyones! The first time I ever bought a stock was 4-5 years ago. So, to get started I bought "Individual Invester" magazine. I read all their advice carefully and decided to pick Prins Recycling for my very first stock purchase. I sunk in $8,000, all my savings at the time. From the day I purchased the stock kept on declining. I kept hoping it would bounce back someday, but it never did. After a couple years of owning it, the company claimed bankruptcy and I lost everything. Lesson - don't listen to advice from authors in an investment magazine. It gets a lot worse. This was a bad first experience for me, but I thought, lets try it one more time. After reading another issue of "Individual Investor" they were really pushing this other stock called Quadrax. I decided to take another plunge thinking a huge lost could not happen to me again. Well, the same thing happened. I sunk another $8,500 into Quadrax. They declined from the day I bought them. They got delisted from Nasdaq and my investment is now worth a whole $50. I was depressed and devastated from these, my first 2 stock purchases ever. I decided not to buy any stock ever again. Until about a year ago when I began reading simple advice such as on these Motley Fool pages to invest in what you know. Well, I work in the computer software industry and was seeing tons of growth all around me. So I tried one more time. For the past year I have been doing well. I simply make common sense decisions and don't try to go for a quick buck. If you get too risky you're going to lose everything - that lesson I have learned!
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