Hey, Buddy, Wanna Buy Stock in a Football Player?

We're back in an era of crazy investments: Kevin Roose

By John Johnson,  Newser Staff

Posted Oct 23, 2013 1:15 PM CDT

(Newser) – Hang on to your wallets, folks, because "the age of bull---- investments is back," declares Kevin Roose at New York. The collapse of 2008 put a damper on things, but today the financial world is filled with crazy schemes and iffy start-ups designed to separate suckers from their money. Want to buy stock in a football player? Have at it. Heard of "Motif Investing"? Good luck with that. Care to join the Winklevoss twins by investing in Bitcoins? Fine.

"Some of these bad ideas spring from the normal irrational exuberance that comes with an economic bounce-back, and the fact that many investors are more willing to jump into murky waters than they were in 2008," writes Roose. But he also blames the JOBS Act, put in place after the financial crisis to help companies raise money, for unleashing a wave of these dumb investments. "The upshot is that between the rise of the social web, the recovering economy, and the deregulatory impact of the JOBS Act, it's now easier than ever for you to lose money in fun-sounding ways." That's fine if you've got money to burn, but ordinary investors should pay heed. Click for the full column.

A file photo of Houston Texans running back Arian Foster.   (AP Photo/Joe Howell, File)
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