This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

The Five Dumbest Things on Wall Street This Week

1. Is That a Sugar Cube in Your Pocket or Are You Just Happy to See Me?

Everybody forgets the lessons of history. But Forbes Editor-in-Chief Steve Forbes is doing it at record speed.

Anyway, we're here to talk about Mr. "Flat Tax" Forbes' latest cockamamie idea, one we learned about from a piece of junk mail sent to the Five Dumbest Things Research Lab.

It's Forbes' new Nanotech Report, a $295-a-year newsletter intended to guide your investments in nanotechnology, which we at the research lab formally define as "the science of itty-bitty things."

Nanotechnology is "the next, next big thing!" writes Steve. As in, a cash-out-all-your-shares-of- Microsoft (MSFT - Get Report)-and-invest-in-this opportunity. As in, get-in-on-the-ground-floor-before-it's-too-late hot.

"I know with absolute certainty that nanotechnology WILL change the world in ways it is still difficult to imagine!" screams a mug shot of Forbes from the mailing's envelope. "For the long-term investor, it represents a greater opportunity for profits than even the PC revolution."

The prose is even more frantic in the enclosed 12-page letter from newsletter editor Josh Wolfe. "To say that nanotechnology is going to be huge is an understatement! It's not some Wall Street fad," writes Wolfe. "By 2015, the nanotech market will be worth $1 trillion!"

Among the "theoretically feasible" applications for nanotech, according to Wolfe:

  • "Engineered molecules" that can be "the key to curing diseases."

  • "A sugar-cube-sized supercomputer capable of storing everything in the Library of Congress."

  • "Smart combat fatigues" that detect biological weapons, secrete "the appropriate blocking agent" and change colors like a chameleon.

  • "Bathrooms that never need cleaning."

  • "Automobile tires that never go flat."

These claims raise a number of questions -- chief among them, how long have people at Forbes been dropping acid?

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
C $52.42 0.00%
HAL $42.94 0.00%
MSFT $43.85 0.00%
QCOM $72.51 0.00%
AAPL $128.46 0.00%


DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs