I read a magazine article the other day about how Paul Keating turned $11,000 into $23million through a company called Lake Technologies. Apparently he got in early at the pre-IPO stage when the company was looking for early investors… picked 11 million shares at $0.001 and eventually they went up to $2 or something once the company listed. (Although I see LAK is now delisted! Lol)
Anyhow, I was wondering what people thought of this. There are various companies out there offering the opportunity to get in "on the ground floor" when companies are looking for early finance. Obviously, the above is an extreme example - I imagine that would happen roughly once every thousand companies, and I imagine the risks are extremely high.
Has/is anyone involved in this very early investing in companies?