Gaius Octavius Posted October 24, 2006 Report Share Posted October 24, 2006 Scammers are breaking into on-line trading accounts and making unauthorized trades. See: http://www.msnbc.msn.com/id/15392442/ Quote Link to comment Share on other sites More sharing options...
Pantagathus Posted October 24, 2006 Report Share Posted October 24, 2006 Considering all the spam e-mails I get about great 'stock tips' put together with this new + all the accounting scandals; I think its safe to say that that the stock market's integrity is completely untrustworthy. Quote Link to comment Share on other sites More sharing options...
Primus Pilus Posted October 24, 2006 Report Share Posted October 24, 2006 I think its safe to say that that the stock market's integrity is completely untrustworthy. Its the chase of the speculation or the analyst hype that is the bigger problem as the markets have opened up to so many investors with 401(k)'s, small day trading accounts, etc. If one continues to look for companies that disregard the stock price chase (without alienating investors completely of course) and worry more about their corporate philosophy rather than the pitfalls of analyst expectations, the market can be quite sound (though still a risk). The strategy won't make the 'quick buck' but it will see fairly steady growth over the long haul. The market is both as stable and volatile as its ever been, in my opinion. There is nothing new about hype, corporate greed or scandal. Regardless, I stopped both online and short term trading when I lost my ass in the tech crash a few years back. Quote Link to comment Share on other sites More sharing options...
Pantagathus Posted October 24, 2006 Report Share Posted October 24, 2006 Its the chase of the speculation or the analyst hype that is the bigger problem as the markets have opened up to so many investors with 401(k)'s, small day trading accounts, etc.... ....The market is both as stable and volatile as its ever been, in my opinion. There is nothing new about hype, corporate greed or scandal. But that's just it, greed & scandal may remain constant but all one has to do is look at the Dow and know that the scope is so much larger now than the past. The market is so much more accesible now to Joe Blow, that brings with it more hype and avenues of fraud. Quote Link to comment Share on other sites More sharing options...
Gaius Octavius Posted October 24, 2006 Author Report Share Posted October 24, 2006 (edited) Supposedly, brokerage accounts are 'insured' by S.I.P.C. (Securities Investor Protection Corp.) for up to $500,000 (including $100,000 cash) and the broker may carry additional insurance - all this for some types of accounts and investments. This insurance does not cover market risk. In any event, the point of this article is that any hacker can get into any investment account and clean it out. This, unfortunately, is also the case with one's bank accounts, credit cards and any other type of financial instrument. I never use a credit card on line. If they won't do it by phone at the same price, then I'll keep my money and they can keep whatever they are hawking. Yet, using a credit card with any vendor is just about as safe as a $100 bill on a sidewalk. One day I'll run a blog on rip-offs in the securities industry that most have probably never heard of. It won't be amusing; and if you think that you have seen my venom - just wait. P.P., I'm going to try to send you a 'joke' on telemarketers. No virus. I've already sent it to some other friends on the Forum. Edited October 24, 2006 by Gaius Octavius Quote Link to comment Share on other sites More sharing options...
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