Just When You Thought It Was Safe to Go Back in the Water...
Just When You Thought It Was Safe to Go Back in the Water...
Also, The Fed's Longest Con
There's no question that in recent months we've gone back to the future with things you only expected to see in a stock market bubble...
This has been a theme of mine lately because intellectually it makes my head hurt... because so much of it makes no sense.
Then again, it never has... but it's fun to write about.
As long as I've been doing what I do for a living, I never ceased to be amazed (not to mention amused) by the downright stupidity of people who buy into some of this garbage.
The latest example was this week's initial public offering ("IPO") of five-year-old Sacks Parente Golf (SPGC), which makes $400 putters that it claims can "naturally improve your stroke."
On its first day of trading, the stock rose by more than 600%, the best first day for any IPO this year.
I’m taking a not-so-wild guess that any investor who bid up the stock did so without ever reading its filings with the U.S. Securities and Exchange Commission ('SEC').
If they had, they would have seen …