Heroes or Zeroes?

I remember reading an article many years ago where investing legend Walter Schloss sheepishly said that he always kept a few really aggressive positions in his account just to keep himself interested. I confess, I suffer from the same trait and have a small portion of my account devoted to long-shot stocks. These do not usually fit the usual risk profile that mark the bulk of my investments, but have what I call "hero or zero" potential. If they work, I stand to make a sizeable profit; if they don't, I will lose a little money. Over the years this has worked well for me as more have worked than have not. My son has come to embrace this approach almost exclusively and he has been shooting the lights out with long-shot stock picks.

With that in mind, I sat down with my list of falling knives to see if there were any decent long-shot selections worth purchasing. The first is one I am down on in a big way so far. National Bank of Greece (NBG) shares have dropped 65% in the past year and about 40% since I originally bought into the troubled bank. I never add to my long shots but I f I did not own it, I would buy a few shares at this price....493 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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