Next to come: Nigerian scam ads in the New York Times

Davis Freeberg wrote an excellent piece on penny stock scammers putting advertisements in the top financial magazines. This is embarrassing enough – you’d expect Forbes to do a minimal background check on their advertisers, especially when the advertisement is stock related. But to make matters worse, Business Week and Smart Money ignored Davis’s email, while Investors Business Daily went as far as tagging this as “new and interesting investment opportunities”. Hey guys, I have a bridge to sell. Mind if I run the ad in your newspaper?

David also does an interesting analysis on the performance of those stocks, and sums it up well: You Can Get Better Odds In Vegas.

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