Scam Dogs And Mo-Mo Mamas: Inside the Wild and Woolly World of Internet Stock Trading / Emshwiller, John R.

Would you take a stock tip from a guy named Tokyo Joe? How about one from Big Dog? If so, you should read this book. If not, you will probably find Scam Dogs and Mo-Mo Mamas an entertaining curiosity about the type of person you're glad you're not. Tokyo Joe and Big Dog are two of the main characters in Scam Dogs. They post messages on Internet stock discussion boards, touting stocks most of us have never heard of. When these guys say "Buy," thousands of people do. The problem for those thousands is the gurus may have done all their own buying before recommending a stock to others and start selling as soon as their followers start buying. At least that's what the Securities and Exchange Commission accused Tokyo Joe of doing when it filed a civil complaint against him in January 2000. (This practice, according to the helpful glossary at the back of the book, is called scalping.) Emshwiller is a reporter for The Wall Street Journal who has covered numerous frauds and swindles--in fact the book started as a Journal article about the colorful Tokyo Joe (How colorful? He usually trades naked in his Manhattan apartment, sitting in the lotus position while staring at multiple computer screens.) Scam Dogs will be most useful to those contemplating a career in day trading. However, when you see how many ways there are to get fleeced, you may decide it's a more remunerative not to become a sheep. --Lou Schuler
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