I’ll bet investing in penny stocks is not one of your New Year’s Resolutions. Should you reconsider?
When I published “Hot Air Promotions” for my grandfather, I had the mistaken idea that penny stocks went out with the thirties when it is believed he wrote the book. To say the man was bitter would be an understatement; after all, he didn’t call it Hot Air Promotions for nothing! Stanley McShane, however, was investing wholly in penny mining stocks. His rancor rose to new heights tucked within his poems. For him, unquestionably, it was bust–not boom.
The new year, 2017, is particularly notable, of course, as it will see the first term of a newly elected president, albeit one without heavy previous political experience. The man has already created waves in Wall Street pushing the Dow to within 1% of 20,000 for several days. Some say it may exceed 22,000.