No. of Recommendations: 5
I own both at the moment, but mostly the parent.

I got lucky that way either in the late 1960s or early 1970s. A salesman tried to high-pressure me into buying shares in a couple of mutual funds. They came to my door in the early evening in those days -- fortunately they gave that up.

I found it difficult to evaluate those mutual funds in those days (no World Wide Web, etc.), so I did not buy any of them. The wife of my boss was a stock broker in those days and I asked her what I should do. She said to buy the parent company who sold those mutual funds, but to hold it only for a short time. I did so, and the stock price of the parent company went up much more than any of their mutual funds. Then she told me to sell, which I did. That was when the investigation broke that these management companies were churning the portfolios of their mutual funds, and getting the commissions for that. Then the parent company I had dropped a lot; fortunately after I sold it. It does not suit my style for investing, so I did not do that again.

She was an interesting broker though. She had me buy shares in a southeast asia gold mining company for $2 or $3 a share, it doubled or something like that and she sold it. I was disappointed when it went up to something like $15, but a day or two later, it dropped to pennies. What had happened was that the company had made a one-time sale of a lot of properties that they had given up on, and that was a revenue spike that many people who saw the revenue spike, but did not know what caused it, thought meant they had struck gold. They did not. And my broker hit that one right.

Another was the time she had me buy Playboy stock and then sell it a week or two later. I bought the stock, the company announced they had just gotten a license to open a Casino in Atlantic city, it jumped in price, and then sold it before it had a chance to drop again. Hugh Hefner may have been a better businessman than Donald Trump, but not a whole lot better.
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