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Originally Posted by philcski
If you buy a stock of a company that is trading at $2 that has already announced they are going bankrupt in a month (i.e. GM), therefore rendering the equity completely worthless, because someone told you to, do you deserve to lose your money?
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If you are putting your money into anything, I would suppose that due dilligence would be in order. In that light, I understand your analogy. However, if they announced that they are going bankrupt, you know for sure that the stock is worthless. It's not a maybe/maybe not situation. In racing, you'd like to assume that what they said was true, that if he wasn't 100%, they wouldn't run him. So you'd hope that him being in the race would be a sign that he's 100%. Now, of course that is no guarantee that he'd win the race. You know going in that it's a gamble. The situation you described isn't a gamble. It's one with a known outcome.
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Manila, Java Gold, Alysheba, Sunday Silence, Go for Wand, In Excess, Paseana, Kotashaan, Holy Bull, Cigar, Alphabet Soup, Formal Gold, Skip Away, Artax, Tiznow, Point Given, Azeri, Candy Ride, Smarty Jones, Ghostzapper, Invasor, Curlin, Zenyatta, Zenyatta, Goldikova, Havre de Grace, Wise Dan, Wise Dan, California Chrome, American Pharoah, Arrogate, Gun Runner, Accelerate, Maximum Security, Gamine
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