ABA Family Legal Guide

Computer Law

Online Purchases

Stocks and Securities

Commentators on investment bulletin boards sound so knowledgeable--should I heed their advice?

Not unless you know the commentators and trust their advice. The Securities and Exchange Commission says many messages on these Internet sites are "bogus--or even scams." These scams often involve lies stating that they have "inside" information, the agency says.

"People claiming to be unbiased observers who've carefully researched the company may actually be company insiders, large shareholders or paid promoters," the SEC states on its website. "A single person can easily create the illusion of widespread interest in a small, thinly traded stock by posting a series of messages under various aliases."