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Biggest Investor Mistakes: iPonzi, Anyone?

By Ben Steverman - 2011-09-13T22:48:05Z

Mary Evans

Company Symbol % Change
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Stock-tip Scams

The voicemail message appears to be a wrong number. The caller is leaving a hot stock tip for his friend: Shares of a company are set to jump higher, maybe after earnings are released or after results of a drug study are announced. Of course, the call isn't a wrong number, and the scammers are hoping its recipient will pump up the stock price just as they sell. Half a dozen clients have called up Mark Lamkin, of Lamkin Wealth Management, excited "like Christmas morning" about such bogus tips. "It's someone trying to make money on someone else's ignorance," he says.