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Out trades


Where there's muck?My more alert and sober readers will no doubt recall a piece I wrote a couple of weeks back concerning a share selling scam involving spurious voicemail messages. Now it seems the practice is growing, as a friend of mine informs me about an unexpected call he took at work last week. On the line was an excitable America chap who kicked off with the old favourite, "Listen: if I told you these shares are gonna go from $16 to $22 in two weeks, how many would you buy? Seriously - I ain't playin' games here." After a bit more of this spiel, and following my friend's understandable question - "What in the name of all that's holy are you on about, man?" - the salesman explained the inevitable downside risk, which I replicate in full. "Your loss is $400 tops, but these shares are goin' big. You...

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