What is the dumbest investment you ever made?

[TexasHusker]

I spent about $50K over a period of months averaging into China Northeast Petroleum.

It went to literally zero, and in fact below zero since they kept wanting maintenance fees to keep the account open.

Oops.

[hamchan]

Washington Mutual bank. Went to zero also. Thankfully I had diversified. Didn't lose TOO much.

[TexasHusker]

Washington Mutual bank. Went to zero also. Thankfully I had diversified. Didn't lose TOO much.

Yeah I remember those days. Some serious haircuts, day after day, week after week, month after month.

I'm guessing most investors these days haven't lived through a protracted bear market. They will learn you.

There will be a time when the markets will go south and seemingly never stop, and you'll see a whole new generation cry "I'm out...never again!!!"

[QuarterMillionMan]

Me $5000 WAMU.

[clatoden99]

This was back when I was first getting into investing around 2008. I invested in GM for around $2 after they had gone into bankruptcy. Thankfully I had only put in a few K and pulled out before it went to $0.

[rennigade]

This was back when I was first getting into investing around 2008. I invested in GM for around $2 after they had gone into bankruptcy. Thankfully I had only put in a few K and pulled out before it went to $0.

How does that work then. It appears that GM stock is at $32.92...if you wouldnt have sold and it went to zero...then went back to $32+...wouldnt you still own shares at the new price? If you purchased 100 shares and it went to 0.00...you still own 100 shares...they just arent worth anything at that time...

[msomnipotent]

How does that work then. It appears that GM stock is at $32.92...if you wouldnt have sold and it went to zero...then went back to $32+...wouldnt you still own shares at the new price? If you purchased 100 shares and it went to 0.00...you still own 100 shares...they just arent worth anything at that time...

I'm pretty sure that GM went through Chapter 11 and the old shares were wiped out. If that was the case, you could claim the loss on your taxes against your gains, but that is about it.