I'm up for a good laugh...anybody want to share their clients hot investment ideas? I am thinking of something that I shared on another thread where I had a client come sprinting into my office wanting to buy AIG and GM...
Had a client come into me a few months ago and put $5000 into KV Pharma. He worked there. Said he didn't want to mess with Scottrade or ETrade and probably wouldn't do much other biz, but wanted to buy this stock since the reports were so bad, but he knew things were actually better than they were reporting. Price then was $6. He thought it couuld get back to $20. Today it's trading for $.66. It makes me chuckle and cry a little all at the same time.
Here's one for you. I had a client (loose term for this one) BUY AIG at $5 and more at $3, over $100,000 total. Sold part of it off in December for a tax loss and then bought back after the 30 days were up. Not solicited, not recommended, just placed the trade. Had another (client but not really) buy Citigroup and GM. Not solicited not recommended, just paced the trade.