Tuesday, August 25, 2009

Day Traders Never Learn

Some people just shouldn't be allowed to invest their own money. Day traders are playing games with Phoney and Fraudie:

Shares of U.S. government-controlled mortgage lenders Fannie Mae and Freddie Mac soared for a second straight day on Tuesday after attracting the attention of day-traders looking to turn a quick profit with these low-priced household names.


Attention idiots: These two stocks are worthless. Worthless. They have no assets and lost billions of dollars last quarter.

Too many otherwise productive adults are willing to bet their hard-earned money on stocks that don't deserve to exist.

Nota bene: Anthony J. Alfidi has no position in FNM or FRE.