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Backstage Wall Street: An Insider's Guide to Knowing Who to Trust, Who to Run From, and How to Maximize Your Investments by Joshua M. Brown

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21Staying Out of the Murder Holes

There are some stock market land mines that will invariably destroy anyone foolish enough to stand on them for an extended period of time.

My friend The Fly, an anonymous blogger who writes the popular if misanthropic trading Web site iBankCoin, has a term he likes to use for these. He calls them murder holes, and a more apt description for these investments couldn’t be conjured if Shakespeare himself came out of a creative writing workshop and checked his portfolio. I think the term was (relatively) recently popularized when it was used in Saving Private Ryan, but it perfectly describes the types of investments we’re about to discuss.

Until you’ve been blown up by a few of these murder holes yourself, it’s hard ...

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