Although the level of digitization and communication continues to become wider and wilder, message boards seem to remain resilient. Message boards happen to be one of the oldest forms of online/internet communication but Facebook and Twitter have outdone it. Nevertheless, the importance of message boards makes them a reliable form of communication even in this digital age.
Just like other forms of communication over the internet, there can be spillage of false information which definitely aims at swaying the opinion of others. In message boards, an individual comes up with a topic and many people start talking about expressing their views on the topic. Some of the most common topics include:
- Stock trading
- Styles and fashions
- Discoveries etc.
In this particular article, we are going to view message boards as a platform where investment and stock trading topics are discussed. Internet communication as you may know it is full of frauds and when dealing with message boards the same problem is present. There is false information everywhere on the internet and here are some guides when dealing with stock message boards:
- Don’t use online stock message boards as your only source of investment ideas
- Don’t lay investment strategies based on what you see discussed on the message boards
- Carry out deep research to ascertain the information presented at these message boards is correct
- Not all stock message boards are true; some are false or manipulative. Consider looking for a credible and known platform like Investors Hangout
- Don’t listen to so many opinions that will push you to sell and buy your stocks often
- Remember message boards are a safe haven for scammers just like other forms of internet communication.
- Always consider the source of the information and topic being discussed on the message boards
Do you remember a guy by the name Anthony Elgindy who got a strong following due to his opinions and tips on the Silicon Investor stock message board? What happened to him later? He was convicted into the court of law in 2005 for extortion and securities frauds. That should tell you that scammers are popular in message boards; so be very careful.
Types of Stock Message Boards
- General Internet Boards
Although other modern platforms like Facebook, Instagram, and Twitter have pushed these general portals aside, they are still being used. Some of the participants find them on Yahoo! Finance holdout.
All you need to do is to enter the name of the company and/or the stock symbol you want to hear about on the Lookup text field and click on the message board for the information to be displayed.
- Specialized Boards
This is a more advanced form of general internet boards. Some of its examples include silicon investor, raging bull, and investor’s hub among others. You can get all the investment information you are looking for.
- Aggregators Boards
Instead of moving from one board to another, aggregators put all the information you need to get started. It can also talk about the stocks that are tops, most spoken about, most active boards among others. A cute example is Investors Hangout.
Until you get a credible stock message board, don’t sell yourself into their ideas. Don’t believe any message or topic that’s being discussed; carry out your own research before settling on a certain stock.