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Beware of hot stock tips

An interesting new report is out on computer crime and ID theft. 2 things to point out:

  • Of all the financial email spam out there, one third of it was the "pump and dump" scam. Today's Kansas City Star article explains that term. The lesson is that you need to assume any unsolicited hot stock tip is garbage.
  • Your info can be sold to an ID thief for a song. Data hackers who steal personal information generally sell it for anywhere from $15 down to one lousy buck.

Reminds me of the old movie Trading Places, where the Wall Street billionaires intentionally destroy a man's life, then bet one dollar on whether he can pull himself out of it. All that devastation, and just one dollar on the line.

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Posted by Travis on March 20, 2007 10:25 am :: Comments (2) :: Permalink

2 Responses to "Beware of hot stock tips"

Hugh says:

March 26, 2007 2:55 pm

Travis,

I get tons of emails that don't make any sense whatsoever. They just babble and literally don't make any sense. Any idea what this is?

Denotes the author of this comment is employed by the Attorney General's Office

Travis says:

March 27, 2007 11:09 am

See my blog post of March 27.

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