In This Chapter
Discussing stocks with others on stock message boards
Joining investment clubs, both online and offline
Tapping into Internet newsgroups
Taking advantage of general social networking sites like Twitter and Facebook
Getting up to speed with new social investing sites
Sorting the valid information from the garbage
Understanding the dangers of penny stocks
If one area of investing online has evolved most since the last edition of this book, it's the ways in which investors can connect with each other. Online investors used to rely on stock message boards, often called chat boards, to trade stock tips, gossip, and hunches with each other. Stock message boards are still a way for investors to connect, but they're gradually being supplanted by new types of social networking sites, including the increasingly popular Twitter and Facebook, which have distinct advantages. Additionally, some social investing sites apply the power of social networking just for investors. In the first part of this chapter, I show you how to get online with stock message boards, including how to contribute to them and what to watch out for. Later, I explore the dangers of penny stocks, which are some of the favorites on stock message boards and other online forums. And lastly, I explore the emerging area of Twitter, Facebook, and social investing sites.
Whenever you're about to try something risky, or at least something ...