I got back to the office this morning after a week-long trip to Europe and I noticed a couple faxes touting the latest investment in a company ready to "change the way we live." According to the faxes, investors in the company are poised to make a fortune.
The faxes reminded me about Joshua Cyr's experiment
. Joshua created a hypothetical portfolio of stocks touted in spam emails. The result: after six months the portfolio was down 52%. Six stocks rose, 16 fell more than 75%, and 15 fell by a lesser amount.
I guess I'll just recycle those faxes.