Some old-timers may remember the king of the day-traders during the internet stock frenzy of the late 1990s who went by the nickname of Tokyo Joe (R’ Yosef’s second cousin from Japan). Thousands of young day-traders were paying him hundreds of dollars a month to share his trading tips. He was subsequently charged by the SEC with failure to register as an investment advisor and building up a position in some small market cap stocks and then dumping his position simultaneously with hyping them for his chassidim. There are still some legit advisory services like Motley Fool, but they generally focus on “longer-term” (aka more than an hour or two) positions and also have good research staff backing up their recommendations.
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