That 'guaranteed' stock tip from my brother-in-law at Thanksgiving

My wife's brother swore by a penny stock he found on Reddit, said it was guaranteed to triple by January. I put $500 into it back in October because he's usually pretty level-headed about money. It dropped 70% in three weeks and he stopped answering my texts. Has anyone else ever taken advice from a relative and lived to regret it, or am I the only one who learned that lesson the expensive way?

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margaret_gonzalez2512d ago

My buddy from the gym took his cousin's crypto tip back in 2021. Put in $2,000 right before everything crashed, and the coin basically vanished off the exchange. He still brings it up at family dinners and his cousin just stares at his plate. The worst part is the cousin doubled down and bought more when it was already tanking. He told me he learned more from that loss than any win, but i still see him flinch whenever anyone says "decentralized.