Any one know anything about penny shares.

A question about : Any one know anything about penny shares.

I have decided to risk Ј300 and buy penny shares as I know someone who does this every year and has doubled their money 4 years out of 5.
What I want to know is can I just give the Ј300 to a someone ie: a broker and tell them to buy penny shares and sell when necessary or do I need to do this myself.
I know I sound dumb but I have never done this before except for tesco shares which is SAYE.
Oh I did buy 117 shares in dragon oil a few years ago and now worth x 2 what they were when I bought them.
Any tips on what to buy would be most welcome.

Best answers:

• Sounds like you could just ask your mate what (s)he invests in - very few brokers would be anywhere near a 100% profit 80% of the time.
• I would read an article like this first to see who should and who should not invest in penny shares https://www.cityequities.com/en/About-Us/Key-Facts.html
• Thread necromancy!!!
• A fool and his money soon part.
• High risk way to lose all your money - so treat it as a hobby not an investment.
• FTSE Small Caps maybe worth a look at then; Im going to have a punt on Fortune Oil (FTO).
• The share price reflects the market's opinion of that company's value and future prospects. If it's a penny, that should tell you something.
  Penny shares do come off, but then slot machines in Vegas pay out a million dollars sometimes too. Are you going to take your Ј300 and stick it in that Vegas slot?
• Don't bother.
  I bought 10,000 share in a football club (cost Ј100) a few month later that Ј100 was worth Ј4 before they stopped trading.
  Too risky, disproportionate dealing costs, big spread. If you don't know what spread is - don't buy any shares!
  Mark
• I think you'd need a personal interest in the share. Isnt there a whole stock exchange for very small companies, there used to be a very nice tax break for anyone who invested on it but I think thats gone now
  RBS is one of the biggest banks in the world but that is going for pennies and better still they cant go broke or hopefully wipe out your shares, why not buy them
• Would you like to buy my Bradford & Bingley shares?
• Maybe in ten years time
• I Bought some penny shares in Emeral Energy back in the late 1990's. I bought for 5 pence and they dived, I then needed the money, so sold them off as a loss and looked at them recently.
  
• Sorry to hear you sold your Emerald Energy shares - I kept mine and forgot about them. I recently had a email notification and my original investment of Ј100 or so has turned into Ј700. Easy to say it now but wish I had invested more at the time!
• most penny shares worth investing into are in the oil sector imo. VOG, AST, MTA, there are others with good potential too. Don't listen to people who say it's too risky, you will never make any serious money in the stock market if you do, just spend a good time researching each company before investing and you should do fine.