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Author: MjrTom Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 3841  
Subject: Stick with Reputable Sources Date: 1/26/2014 1:02 AM
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Early on in my investing career, I saw information from two different but unfamiliar sources (neither being MF, please note) about a biotech company that was "poised to revolutionize the treatment of--and potentially cure--diabetes." Okay, that's paraphrased, but you get the idea. The shares were around $6.50, so I bought myself 1,000. I just knew I would be retiring early thanks to this amazing biotech company. Oddly, the bottom fell out about 4-5 months later with the shares losing something like three-quarters of their value. I hung on thinking maybe the stock would come back. I think the shares were at $0.04 when I finally sold.

I had never before heard of the scam where someone buys a ton of shares in a failing company, issues rave guidance, waits for a bunch of fools (small "f") to jump in, and then sells--walking away with everyone's money in the process. Once I did hear of such things I realized this was what happened to me. I no longer pay attention to any investment information from unknown sources. In fact I pretty much stick to Motley Fool. I learned the hard way to make sure my investment advice came from reputable sources.
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