Anybody using RedHotPennyShares?

[Alton Turner Blackwood]

As per the title.

Just curious

http://www.redhotpennyshares.co.za/

 

[tortured]

As per the title.

Just curious

http://www.redhotpennyshares.co.za/

Please don't. Stay away from these things.

 

[matt_za]

For the love of anything you hold dear do not even think about using these types of things. Worst case scenario you buy a small cap share and then they use capital/other investores money to inflate the price since so illiquid and easy to do with small caps. You think wow and put your live savings in. Suddenly prices collapse and your left with nothing since when small caps collapse they tend to lose the majority of there share price and you arent able to sell. Go watch a movie called boiler room. Very entertaining and it shows how these guys do this type of thing.

 

[DJ...]

Do not ever be conned into using these sites. Ever!

 

[supersunbird]

Are you already well invested on other things and have money you can just as well burn? Just want to know why you are looking at this...

 

[Alton Turner Blackwood]

Yes I have.

And I've made fdcking millions.



The trick is that you buy loads of shares when they're below say 5 cents.
So you buy around R20 000 worth of shares and get 400 000 shares.

Then you find some suckers and you start talking up the share and mention that you have inside info on it.
And you buy maybe a 100 more shares at say 10c, and then you tell your suckers "SEE!!! It ****ing doubled already!!!

And then they start buying and their friends start buying and the price goes up and up...

And while that's happening you sell yours before they find out its a dog.

And then you move to Rio like me before they can find you.





(It's called the pump and dump. http://en.wikipedia.org/wiki/Pump_and_dump)

 

[Alton Turner Blackwood]

Are you already well invested on other things and have money you can just as well burn? Just want to know why you are looking at this...

Nope, I have nothing!

I was just curious, better to check here then to get suckered into this schit!

 

[Shake&Bake]

No NO NO- as you've heard here already.

And all of those penny share sites use the same disclaimer:

Disclaimer: Copyright 2012, Fleet Street Publications (Pty) Ltd. The information contained herein is obtained from sources believed to be reliable, but its accuracy cannot be guaranteed. No action or inaction should be taken based solely on the contents of this publication. We do research all our recommendations and articles thoroughly, but we disclaim all liability for any inaccuracies or omissions found in this publication. The past is not a guide to future performance. Trades in stocks recommended by Red Hot Penny Shares are small company shares. By their nature, such investments can be relatively illiquid and, as a result, hard to trade. This makes such shares more risky than other investments. Please seek independent financial advice if necessary. Profits from share dealing are a form of income and subject to taxation. Levels and bases of, and reliefs from, taxation are subject to change, and depend on individual circumstances.

One last "NO" for effect.

 

[supersunbird]

Nope, I have nothing!

I was just curious, better to check here then to get suckered into this schit!

Well, then what do you want to have? Do you want to learn more?

 

[DJ...]

marco's got a thing for Jeff Black so he will undoubtedly come in here and sing their praises though. You decide whose opinions hold more merit...

 

[Ecco]

I saw an ad for this on TV this morning. Sounds like consensus on the forum is stay away. So many have been spared.

Now what about the poor sods who will get conned - why are these guys even allowed to advertise an obvious scam?

 

[Redeemed]

I'd rather read this guy's analysis: http://www.smallcaps.co.za/

 

[MKFrost]

That guy advertising the penny shares on TV always used to say that it had a money back guarantee if you did not double your money on at least 1 share. All he needs to do is feed you the names of 100 and hope for one to double in value, which with penny shares can happen quite easily.

So you lose your backside on 99 shares and win on 1 so no need for the money back guarantee.

In short, most valuable lesson you can learn about making money/investing is never put on more than what you can comfortably lose. I lived by that all my life and I have done pretty well.