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Microcap & Penny Stocks : FRANKLIN TELECOM (FTEL) -- Ignore unavailable to you. Want to Upgrade?

To: Larrie Woods who wrote (23687)	12/26/1997 12:36:00 PM
From: LowtherAcademy	Respond to of 41046

Jeff, Just think of it as a big pyramid scheme. The stocks actually are very liquid (hopefully) trophys. They have little intrinsic value. I should adjust that to say they have no intrinsic value with today's legal system---except for lawyers. You are simply gambling that the performance of the company will make your stocks "trophys" appealing to the next guy in line. He, in turn, is going to buy them with the hope that the next guy down from him will decide that these "trophys" are even more valuable. It's really not to different than the civilized concept of currency, i.e., money representing something of value. Fortunately, in this game, there are a lot of codified rules that tend to make us feel more comfortable with our decision to trade the opportunity to own hard assets...land, building, machinery, etc. for the illusionary stock cert. It's best not to give this sort of stuff too much thought, or you'll go back to a barter system and only own property and producing machinery. Seasons Greetings, Lew