Around 2008....I worked with a guy whose dad called him up one day about a stock....SIRI (Sirus XM Radio). It was doing lousy and gone down to 10 cents a share. His dad was hearing some good stuff about a comeback. Dad said he was going to $10,000 of shares (figure about 100,000 shares).
My buddy brought this up with me. I just couldn't see the wisdom....it was a dying stock in my mind. The buddy went ahead bought some stock (couple days later, it was around 12 cents a share). I seem to remember it being near 150,000 shares that he bought.
Six weeks later....stock was near 18 cents a share, and I jumped into this. I wasn't crazy over a huge number.....so I bought near 2,000 shares. About two months later....it was near 25 cents and I sold my shares, happily. I went back in a couple months later at 35 cents and sold at 45 cents.
My buddy and his dad were still into this in 2010, and I suspect they are still both into the stock.
Value now? I was glancing at stock prices today and went back to look over SIRI. His dad would have $500,000 of value. My associate would have $750,000.
You come across some kind of gamble like that once in your life. Either you take it or you walk away.