When uninformed investors who prefer to remain uninformed speculate with the purchase of new securities issues, they assume it’s all a one-way street to quick riches.
And if they’re proven wrong, it’s someone's fault other than their own. They got the wrong information; they were lied to; anything but the fact they never bothered to get the facts beforehand. The company prospectus usually does a good job in its SEC filing, describing the risks involved. But dreamy-eyed speculators don’t bother to read or take the warnings seriously. (See the Earl J. Weinreb NewsHole® comments.)
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